ANN – Credit Suisse rates the stock as Outperform

Ansell will report its first-half results on 16 February and expects to deliver organic growth above 20%, higher than Credit Suisse’s previous forecast of 14% with unaudited earnings per share expected to be 62-68% over last year.

Credit Suisse notes the result is stronger than expected due to higher covid-led PPE demand and market share gains in both mechanical and surgical gloves.

The broker has increased its FY21 estimates by 19% and expects earnings per share of US$1.68 for the year.

Outperform retained. Target is raised to $45.50 from $45.

Sector: Health Care Equipment & Services.

 

Target price is $45.50.Current Price is $36.67. Difference: $8.83 – (brackets indicate current price is over target). If ANN meets the Credit Suisse target it will return approximately 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →