MARKET TALK: Goldman Sachs Boosts ASOS Target Price

14th Jun 2010 11:02

1002 GMT [Dow Jones] Goldman Sachs boosts ASOS (ASC.LN) target price to 1280p from 800p. In its FY10 results, the company indicates continuation of the strong growth trajectory reported at its April trading update, notes GS. The bank adds that retail sales for the nine weeks to June 6 are up 58% year-on-year, with the UK +36% year-on-year and International more than doubled year-on-year. "A new warehouse, initially to support GBP600M of sales but with potential for expansion to GBP1B, was also announced," GS adds. Buy rating. Shares +1.3% at 756p.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 14, 2010 06:02 ET (10:02 GMT)