Ascential (ASCL.L) 06-04-20
Shares in Ascential (ASCL.L) have dropped from recent highs of 421.2p. Are further falls imminent, or will investors benefit from this low price?
- A return to previous highs would represent a rise of 127%. Now trading at 184.94p (at time of writing).
- This stock is one of the most significant fallers in the period.
- Is the fall justified? Is a bounce due?
- The market has been known to over-react to negative news. Traders may wish to consider whether the fall is reasonable, or is the recent fall an over-reaction?
- Contrarian traders should be mindful of fundamentals and events, which can influence price. Check our website for updates.
- Shares -56% from 12-month highs; +3% from 12 month lows.
03 Apr: Ascential, the information and events company, said it would not pay a dividend after cancelling the Cannes Lions Festival due to the coronovirus crisis.
01 Apr: Goldman Sachs reiterates its buy rating on Ascential Plc (ASCL) and reduced the target price to 303p (from 373p).
26 Mar: Peel Hunt reiterates its buy rating on Ascential Plc (ASCL) and reduced the target price to 350p (from 440p).
25 Mar: Liberum Capital has upgraded its rating on Ascential Plc (ASCL) to buy (from buy).
24 Mar: Ascential announced that a key finance conference in Holland had been rescheduled from June to September, owing to the current pandemic.
19 Mar: HSBC has downgraded its rating on Ascential Plc (ASCL) to hold (from buy) and reduced the target price to 240p (from 460p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires