Citi flags positive a2 Milk read-through from Synlait result; rates 'Buy'
BUZZ-Citi flags positive a2 Milk read-through from Synlait result; rates 'Buy' ** Shares of New Zealand's a2 Milk ATM.NZ rise as much as 3.1% to NZ$8.55, their highest level since September 16
** Citi said comments in New Zealand dairy processor Synlait's SML.NZ FY26 result provided another positive datapoint for a2 Milk
** Brokerage notes Synlait's September production was tracking in line with or ahead of plan across several key product categories
** Citi said Synlait's production plan attainment improved to 103% in 2H26 from 90% in 1H26, suggesting a2 Milk's FY27 volume growth should increasingly reflect underlying consumer demand
** Adds, next catalyst for a2 Milk will be its AGM on November 19
** Rates ATM "Buy", with target price of A$6.65 per share for ASX-listed shares A2M.AX
** New Zealand-listed stock down 17.5% this year, including the day's move
(Reporting by Rajasik Mukherjee in Bengaluru)
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