ANN - Citi rates the stock as Neutral
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Citi's price target has lifted to $24 from $21 as the modeling has been updated to incorporate share buybacks and the latest FX projections. Rating remains Neutral.
The analysts remain sceptical about further acquisitions, as well as the current restructuring program, which they see as largely normal operation of business (not that special, thus).
Citi prefers that surplus cash is directed back towards shareholders, instead of using it for acquisitions, estimating every $100m in buybacks increases EPS growth by 2-3c per share.
Sector: Health Care Equipment & Services.
Target price is $24.00.Current Price is $24.23. Difference: ($0.23) - (brackets indicate current price is over target). If ANN meets the Citi target it will return approximately -1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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