MARKET TALK: ASOS Update Good But Factored Into Share Price

14th Jul 2010 08:00

0700 GMT [Dow Jones] ASOS's (ASC.LN) 1Q trading update is good, but fully factored into the current share price and slightly weaker than the first nine-week trend, says Seymour Pierce. Overall, the UK figures were in line with expectations, while international sales are still tracking ahead of projections, the brokerage says. Retains hold recommendation on the stock but continues to advise investors to take profits at these levels. Notes the stock has had a phenomenal run up by over 60% over the last quarter. Adds that the complexities of developing the business overseas have not been fully factored into the share price. Shares closed Tuesday at 896p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 03:00 ET (07:00 GMT)