Blackmores to face heat from Swisse's rising Aussie focus - Citi

Health and Happiness (H&H) International Holdings

25/03/2022 05:08

** Nutritional supplements maker Blackmores Ltd  BKL.AX 
will see competition headwinds from competitor Swisse's
increasing its Australian focus, Citi says
    ** Swisse, a unit of Hong Kong-listed H&H International
 1112.HK , is establishing and growing relationships with
domestic grocery retailers in the AU-NZ region, brokerage says
    ** "We see Swisse's growing focus on grocery retailers as a
downside risk to Blackmores, particularly given the latter has
stepped away from aggressive discounting" - Citi
    ** Citi has a price target of A$73.16 and "sell" rating on
BKL
    ** Of the 10 analysts covering the stock, one rates it
"buy", four "hold", and five "sell" or "lower"; median PT is
A$81.50 
    ** BKL down 18.5% YTD



 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))