Analyst Stock Pick for FY19 for Agricultural FMCG sector
Jonathan Snape
The a2Milk Company (A2M)
Despite a recent profit downgrade for FY18e, A2M continues to achieve strong levels of earnings growth while generating high levels of operating cash realisation. Near term we see China as a key driver of earnings growth as both the distribution footprint expands and sales velocities improve, however, we are also optimistic about other growth levers open to A2M including the US, UK and adult nutrition. Longer-term we see both the geographic and product expansion strategy for A2M as providing the next legs of growth, with the company’s success in the IMF category allowing A2M to internally fund both its geographical expansion and product diversification strategy.
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$6.85 |
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Mkt cap ! $5.028B | |||
| Open | High | Low | Value | Volume |
| $6.93 | $6.98 | $6.83 | $5.389M | 778.5K |
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| No. | Vol. | Price($) |
|---|---|---|
| 15 | 7442 | $6.84 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.85 | 12316 | 20 |
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