JOHN STEVENSON | PEEL HUNT
With significant global growth potential remaining and an earnings margin potential that is materially above current performance, we believe the recent sell-off provides a good buying opportunity, noting that a pick-up in more recent trading levels after a soft February are likely to provide a step up in sales momentum.
ANDREW WADE | NUMIS
Asos yesterday earmarked £2.5bn of sales as its next “staging post”. Given the high quality and unique nature of Asos’ offer, we have little doubt this will be achieved...We leave our forecasts unchanged and remain confident in the Asos proposition.
SIMON FRENCH | PANMURE GORDON
Asos has announced first half results in line with expectations reporting £20.1m
of profit before tax compared to our forecast of £19.5m and consensus of £19.7m... The rating is starting to look more appealing but for now we reiterate our hold’ recommendation.