A2 Milk Could Beat Guidance if Export Trends Continue -- Market Talk

Dow Jones03-22

0257 GMT - The a2 Milk Company could beat its full-year revenue guidance if current export trends continue, Citi analysts tell clients in a note. They write that New Zealand port data suggests that momentum in export volumes to Hong Kong continued in January. They reckon that this could suggest further improvement in fiscal 2H sales of a2's English-labeled product, driven by consumers trading down to lower-cost infant formula and the absence of Covid-related obstructions. Export volumes to Australia also appear to have further grown, they add. Citi has a neutral rating and A$5.75 target price on the stock, which is up 0.9% at A$6.195. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 21, 2024 22:57 ET (02:57 GMT)

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