2217 GMT - The a2 Milk Company's bull at Citi is even more positive on the infant-formula manufacturer's local-label prospects in China following a visit to the country. Analyst Sam Teeger tells clients in a note that manufacturing dates on tins are relatively more recent than those he saw a year ago, which he takes as a sign of underlying product sell-through. He acknowledges that he only visited 10 supermarkets and baby stores, but says that this evidence is consistent with recent port data. Citi has a buy rating and A$7.33 target price on the stock, which is at A$5.78 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 17:17 ET (22:17 GMT)
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