MARKET TALK: Investec Raises ASOS Price Target

24th Jun 2010 09:47

0847 GMT [Dow Jones] Investec Securities raises ASOS (ASC.LN) price target to 895p from 570p. Recognises the company's solid growth track record and the increased credibility of its international growth story following the new warehouse investment. Expects significant earnings growth to continue well into FY'12 and FY'13. "However, we believe the market is already discounting growth to at least GBP600M of sales in five years, and remain holders of the stock." Shares -0.8% at 853p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 24, 2010 04:47 ET (08:47 GMT)