0240 GMT - The a2 Milk Company's bull at Citi sees the infant-formula maker's December-half result as more evidence that headwinds in China against overseas providers have dissipated. Gone are the days in which market-share gains are dominated by domestic brands, analyst Sam Teeger says. Reiterating his buy recommendation, Teeger tells clients in a note that a2 Milk is the third highest market-share gainer in China, trailing Nestle and China's Yili. Three of the top five brands are now from outside China, he observes. He sees a2 Milk gearing up for a strong fiscal 2026, with share-price catalysts including potential government stimulus, supply chain acquisitions, and capital management. Citi raises its target price 12% to A$8.20. Shares are up 2.7% at A$7.315. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 21:40 ET (02:40 GMT)
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