Business
Why brokers slashed their A2 Milk (ASX:A2M) share price target – The Motley Fool Australia
Brokers have run the ruler on the A2 Milk Company Ltd (ASX: A2M) share price after the company’s earnings downgrade. Here’s the rundown.
A2 Milk Company Ltd(ASX: A2M) may have lost its market darling status after yet another earnings downgrade. After reviewing A2’s updated FY21 and first half guidance provided on 18 December, Citi and Morgan Stanley slashed their A2 Milk share price targets. Here’s the rundown of what happened and how the brokers view A2 moving forward.
Recovery slower than expected
A2’s daigou channel represents a significant proportion of its domestic infant nutrition sales in the Australia/New Zealand region….
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