Citi remains neutral on Australia's Ansell; says competition reports steady demand
BUZZ-Citi remains neutral on Australia's Ansell; says competition reports steady demand ** Analysts at Citi maintain a neutral rating for Australian medical glove maker Ansell ANN.AX, with its price target set at A$39.5
** Brokerage says Ansell's competitor Top Glove TPGC.KL reports global demand for gloves outpacing supply growth in its fourth-quarter results
** Both Ansell and Top Glove have been able to pass rising raw material costs to consumers, keeping margins consistent, Citi adds
** Brokerage flags currency movements, especially EURUSD EUR= and volatile prices of materials such as latex as risks for ANN
** Citi estimates 11% core EPS growth in FY27 over FY26, visible alpha consensus at nearly 12% growth
** 1 of 10 analysts rate the stock "buy" or higher, 9 "hold"; their median PT is A$39.1, according to data compiled by LSEG data
** Stock up 28.8% YTD, as of last close
(Reporting by Rudrannsh Mehra in Bengaluru)
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