You are here: City and Corporate / The city view - ASOS
The city view - ASOS
Archived article dated Monday November 17th 2008
Industry-beating sales growth for the first half from ASOS led Altium Securities to re-iterate its 'Buy' recommendation.
The broker continues to believe ASOS is in a strong position to benefit from over-capacity in the retail sector and from its model that is free from the crippling legacy costs that hinder other retailers.
Although Altium acknowledges that ASOS looks expensive compared to the rest of the sector it suggests average benchmarks do not provide useful valuation guidelines. It retains its target price of 432p, which compares with an underlying share price of 275p following the 7% uplift in early trading today (November 17).
Should your colleagues be reading the Retail Bulletin?
Let them know about us.
