FY23 revenue is now likely to increase to low double-digit growth compared to high single-digit growth previously (thanks largely to currency benefits), according to management at a2 Milk Co, in an AGM trading update. Management also stated it is on track to achieve its target to grow sales to US$2bn by FY26 and improve earnings margins over time. Morgans increases its forecasts and raises its target to $6.35 from $5.87. The Hold rating is retained due to regulatory risk and a full valuation, explains Morgans.
Media Updates, page-12036
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| Open | High | Low | Value | Volume |
| $6.88 | $6.90 | $6.78 | $7.886M | 1.152M |
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| No. | Vol. | Price($) |
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| 2 | 9718 | $6.84 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.85 | 6515 | 3 |
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