A2M – Macquarie rates the stock as Outperform

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Macquarie reviews the company’s market after the investor presentation, which highlighted an increase in market share in the Chinese infant formula segment over the last two months.

This share increase comes on the back of improved availability of stock and strengthening demand. Macquarie believes there is ample opportunity for the company to capture additional market share and envisages upside risks to margins.

Macquarie maintains an Outperform rating and increases the target to NZ$8.40 from NZ$6.35.

Sector: Food, Beverage & Tobacco.

Current Price is $7.02. Target price not assessed.

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