creeping up to 1.70s?, page-309

An opposing view can be annoying but if that opposing view stopped countless people losing money on this then the opposing view should be welcome

I have stated an will again to be clear

A2M are a great business

A2m have done extremely well in a short time

A2m have markets with possible griwth potential

A2m have had a stellar run but that's the point the run is now over

Now for the bear case

A2m are over valued on this PE

A2m have lost sentiment of buyers

A2m fave headwinds with increased competition

A2M are going to battle to keep ahead of the profit upgrades you can only keep lifting guidance fit so long then the music stops as you plateau

A2m are not a unique business

A2M will battle to protect the A2 labelling as we have seen with lion etc branding milk as A2

The lack of scientific proof A2 is better than A1 will hinder growth until it's conclusive from a mass independent study

A2m will battle to keep consumers intrested taste is better but your paying top dollar for it

School of thought is milk could go below a dollar a litre in super markets

Baby formula market gettjng more crowded by the day competitive advantage erosion is likely

Any miss on earnings on a PE this high would be severely punished

Summary a very good coy facing more headwinds than tailwinds who has had a massive run up now correcting that has very little chance of any share holder Value increasing by the same numbers we have seen in the last year

As a buy Id rate it 1-5 as a sell 4-5 on the above

Conclusion SELL