ASX-shares of A2 Milk gain as Citi hikes earnings forecast ahead of H1 result

A2 Milk

21/01/2024 23:45

(Updates with share moves)
    ** ASX-listed shares of A2 Milk  A2M.AX   ATM.NZ  rise as
much as 3.5% to A$4.47 to hit their highest since Sept. 18
    ** Analysts at Citi estimate co's 1H24 net profit after tax
(NPAT) of NZ$73 million ($44.64 million), down 1% from the
year-ago period
    ** Citi estimates FY24 NPAT of NZ$160 million ($97.84
million), up 3% from the year-ago period
    ** Analysts forecast a stronger 2H performance vs 1H
    ** Citi maintains "Buy" rating for the dairy producer on
better-than-expected China birth rate in CY23, among others
    ** Co to report 1H24 earnings on Feb. 19
    ** Five of 10 analysts rate the stock "Buy" or higher, four
"Hold" and one "Sell"; their median PT is A$5.13 – LSEG data
    ** Stock fell 38.1% in 2023


($1 = 1.6353 New Zealand dollars)

 (Reporting by Sherin Sunny and Rishav Chatterjee in Bengaluru;
Editing by Lisa Shumaker)
 ((Sherin.Sunny@thomsonreuters.com))