I’ve sold my holding in A2M following the Synlait guidance announcement and prior to the agm.
Yes, there has absolutely been a fundamental change and A2M is heading into a lower growth paradigm for at least the FY17 financial year.
The Synlait guidance suggests FY17 infant formula growth for A2M will be in the order of 10 to 15%, if one allows generously for all other A2M market performance than it still becomes a struggle to suggest that A2M will achieve more than 10 to 20% overall revenue growth for FY17.
That is what I expect the market to receive as guidance on agm day. The difficulty for shareholders is that analyst consensus estimates, the market if you like, still remain at 45% growth for overall revenues.
So the market will probably experience a shock and a drop on agm day, in my opinion.
My present valuation for A2M is generously NZ$1.60, so A2M a sell at this point in time in my view.
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Last
$6.25 |
Change
0.510(8.89%) |
Mkt cap ! $4.525B |
Open | High | Low | Value | Volume |
$6.24 | $6.77 | $6.05 | $29.65M | 4.654M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 152106 | $6.56 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.00 | 370 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 176 | 6.500 |
1 | 78 | 6.370 |
1 | 620 | 6.300 |
1 | 158 | 6.250 |
2 | 1430 | 6.240 |
Price($) | Vol. | No. |
---|---|---|
6.000 | 370 | 1 |
6.130 | 800 | 1 |
6.180 | 2000 | 1 |
6.200 | 9360 | 3 |
6.230 | 90 | 1 |
Last trade - 11.20am 27/09/2024 (20 minute delay) ? |
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