China IF market will expand 21%, page-121

Out just now.....

Morgan Stanley rates BAL as Initiation of coverage with Overweight (1) -
Morgan Stanley initiates coverage with an Overweight rating and $11 target. Industry view is Cautious. The broker believes Bellamy's is on the cusp of a turnaround, having developed a premium brand with what is, in effect, an inferior product, given it lacks Omega 3 & 6.

The new formula is expected to prove an inflection point in sales and earnings. The broker believes the current discounted valuation is not taking into account a recovery in the business and subsequent strong earnings growth.

Target price is $11.00 Current Price is $7.65 Difference: $3.35
If BAL meets the Morgan Stanley target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $10.13, suggesting upside of 32.5% (ex-dividends)
The company's fiscal year ends in June.