MARKET TALK: Asos Share Price Leaps Too Fast - FinnCap

11th Jun 2010 08:35

0735 GMT [Dow Jones] The 15% leap in online fashion retailer Asos PLC's (ASC.LN) share price Wednesday, following full-year results that were "merely in line with expectations", came as a surprise, says FinnCap analyst David Stoddart. Says as Asos' management is seeking to restrain fiscal 2011 forecasts, the reason for the rise appears to lie in expectations for international growth potential and bid hopes. But says these points are almost universally accepted in the market already, while doubts persist about the level of competition facing Asos overseas. Rates the stock "sell". Shares +2% at 729p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 11, 2010 03:35 ET (07:35 GMT)