MGC -> Morgans View.

Investment view – Move to a Hold recommendation and A$1.38 PT The quantum of MG’s downgrade is disappointing and it will take time for confidence to be rebuilt. MG appears oversold as it has a strong brand (Devondale), is Australia’s largest dairy producer, is leveraged to improving industry fundamentals, offers an attractive dividend yield and is trading at a 36% discount to its FY16F NTA of A$1.95. However, until new management is in place and there is greater certainty over the company’s strategic direction and financial model, we move to a Hold and A$1.38 PT.   

Anchorage capital sold out 11m shares over the past few days. Shorting has been minimal  (20% of overall volume). My view is that we are oversold and we should bounce to 1.25 at a minimum.

also listen to the chairman via this page. http://www.abc.net.au/news/2016-05-11/asic-looks-at-murray-goulburn/7404016