Goldman Sachs rates the online retailer as a “buy” with a target price of 3,350p, and lowers its estimates following the company’s first half trading update. The broker now sees retail sales growth of 55 per cent for fiscal year 2012 and 47 per cent for 2013, revised down from 63 per cent and 52 per cent respectively. It sees key risks for ASOS as a failure ot complete international expansion plans and offline competition.
Citigroup initiates coverage of the speciality plastic and fibre products company with a “buy” rating and a target price of £4.05. The broker says the arrival of Colin Day as CEO has reinvigorated the share price and turned attention to revenue growth and acquisitions. Citi is looking for +7 per cent organic growth in 2012, and says the company has significant funds available for M&A to supplement that growth.
Nomura rates the rail tunnel operator as a “buy” with a target price of €9, and leaves its forecasts virtually unchanged for the third quarter results, but slightly changes the mix. The broker’s 2012 estimates are based on no revenue growth in Le Shuttle, but incorporate some Olympic-led growth for Eurostar. It still sees GET as well placed to deliver profit growth and generate cash.