Brokers note - ASOS
Shore Capital believes the recent share price fall represents a buying opportunity with the current PE an undemanding 18x 2009/10 earnings. It points to ASOS' sales growth potential and operational gearing benefits, which should see a doubling of earnings over the next two years as justification to retain its 'Buy' recommendation. Its share are up 1% today (July 1) at 383p.
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