Business
A2 Milk (ASX:A2M) shares and one other slapped with sell ratings
A2 Milk Company Ltd (ASX: A2M) and Bubs Australia Ltd (ASX: BUB) shares have slumped to multi-year lows as COVID-19 has put a halt on any near-term growth prospects.
While some investors may perceive these heavily discounted infant formula shares as a bargain, Citi thinks the Bubs and A2 Milk share prices are headed lower.
A2 Milk share price rated as a sell
Citi analysts have paid close attention to the results of Feihe, the largest and most highly recognised Chinese infant milk formula company. Feihe reported an online and offline market share of 17.20% in Q3 2020, with an ambitious goal to have at least 30% market share by 2023. The…
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