BKL – Citi rates the stock as Neutral

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The good news is that Blackmores’ new strategy seems sensible and it might actually turn around the company’s operational performance, comment analysts at Citi. They still need to see evidence of tangible improvement before turning more positive on the stock.

Earnings estimates have been reduced by -19% and -6% respectively for FY21 and FY22. Price target loses -7% to $72.80. Neutral rating maintained.

Sector: Household & Personal Products.

Target price is $72.80.Current Price is $68.05. Difference: $4.75 – (brackets indicate current price is over target). If BKL meets the Citi target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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