Well, Bell Potter does not necessarily agree and has upgraded the stock two notches. Summary of Bell's most recent analysis of A2M in Fnarena:
a2Milk is showing unexpectedly early signs of life due to a combination of destocking and stronger exports in recent months, observes Bell Potter. The broker notes the company has addressed excess stock issues by scaling back Australian deliveries in order to reduce the inventory build, with exports of infant milk formula to Australia from Synlait Milk ((SM1)) ports down -72% in the past six months. A2 also reported two sequential month gains in Chinese exports, an unexpectedly soon uplift following lows in December 2020 according to the broker. The recommendation is upgraded to Buy from Sell and the target price increases to $9.50 from $8.65. This report was published on April 12, 2021. The target price is $9.50.
Media Updates, page-8755
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Last
$5.77 |
Change
0.020(0.35%) |
Mkt cap ! $4.177B | |||
| Open | High | Low | Value | Volume |
| $5.73 | $5.84 | $5.68 | $11.40M | 1.983M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3969 | $5.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.78 | 22827 | 6 |
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| Last trade - 16.10pm 31/10/2024 (20 minute delay) ? |
| A2M (ASX) Chart |