AO World (AO) is the leading online retailer of domestic appliances in the UK and additionally has a significant non-UK operation in Germany and the Netherlands. Our initiation today examines its scaling-upstrategies and its potential to re-rate. We conclude that scaling potential is already being demonstrated outside the UK where we believe the ultimate value lies while the UK needs to show how it can grow its core MDA sales to counter recent signs of maturity. We initiate with a buy recomme
20 Sep 2018
The In-Betweeners
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The In-Betweeners
AO World Plc (AO:LON) | 106 0.8 0.8% | Mkt Cap: 610.4m
- Published:
20 Sep 2018 -
Author:
Tony Shiret -
Pages:
70
AO World (AO) is the leading online retailer of domestic appliances in the UK and additionally has a significant non-UK operation in Germany and the Netherlands. Our initiation today examines its scaling-upstrategies and its potential to re-rate. We conclude that scaling potential is already being demonstrated outside the UK where we believe the ultimate value lies while the UK needs to show how it can grow its core MDA sales to counter recent signs of maturity. We initiate with a buy recomme