UBS rates A2M as Neutral
It was another strong result from a2Milk, ahead of the broker, driven by A&NZ and China. There is no sign of a slowing of demand in China, the broker notes, and the a2 brand continues to enjoy a strong customer response. FY20 should see the benefits of marketing spend in the second half.
The broker would like to have a more positive view overall but retains Neutral, concerned about a single a2 brand and a rich valuation. New product launches would help, particularly in the US which the broker sees as an underappreciated opportunity. Target rises to NZ$14.00 from NZ$11.80.
Fund Mgr notes, page-4
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Last
$5.77 |
Change
0.035(0.61%) |
Mkt cap ! $3.808B | |||
| Open | High | Low | Value | Volume |
| $5.73 | $5.79 | $5.68 | $4.581M | 799.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 20395 | $5.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.78 | 4789 | 13 |
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| Last trade - 15.00pm 29/11/2024 (20 minute delay) ? |
| A2M (ASX) Chart |
