Bloomberg TV, page-55

Positives:
- some positive press of late (no impact from CBEC)
- 2 brokers upgraded their ratings
- we are getting closer to AGM
- Healthy inventory levels at Jun18 and shelves still clearing fast (demand must be through the roof)

Negatives:
- Lots of directors selling shares including CEO cleaning her slate
- 20% drop in SP since CEO sold her shares
- 1 broker downgraded their rating
- A2M is afraid to update the market with Q1 sales and FY19 outlook
- Shorters are growing to 3.9% of issued capital (enticing investors with intraday increases followed by strong selling)
- No Fonterra update

Make your own mind up, but at $9.61 this is heavily undervalued IMO. It could easily hit $16 at year end if management achieve a 40% increase in sales.
My price targets are below based on various NPAT projections:
$200m - $8
$220m - $10
$240m - $12
$260m - $14