Analyst Views: Has Ocado’s performance in the first quarter changed your outlook?
CLIVE BLACK | SHORE CAPITAL
Fundamentally we remain of the view that it is a distinctive business model in that it doesn’t work when it comes to earnings. The share price remains anomalous to our minds and the read across to other highly rated online retailers is spurious in our view.
JAMES GRZINIC | JEFFERIES
Ocado’s update confirmed a solid start to the year. The roll-out of M.com is progressing well. There’s no news on international licensing or CFC3. Investors should not expect much excitement on the former over the near term, whilst an announcement on a third UK site is likely imminent.
ANDREW WADE | NUMIS
Ocado has posted first quarter sales growth of 18 per cent, a slowdown as expected from the exceptional six week Christmas run-rate, but consistent with our full-year forecasts…We continue to see huge long term potential and remain positive.