2113 GMT - Ansell loses its bulls at Jefferies despite the protective-garment manufacturer's success with its US$640 million acquisition from Kimberly-Clark. Analysts Vanessa Thomson and David Stanton cut their recommendation on the stock to hold from buy, telling clients in a note that it is trading at an 11% premium to its 10-year average price-to-earnings despite the prospect of moderating sales growth. That said, they are positive on Ansell's productivity and acquisition programs, pointing out that the former Kimberly-Clark unit is on track to be fully integrated by the end of its current fiscal year. Jefferies raises its target price 7.7% to A$42.00. Shares are at A$37.77 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 16:13 ET (21:13 GMT)
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