2323 GMT - Synlait Milk's turnaround has been quicker than Bell Potter analyst Jonathan Snape anticipated, but question marks remain over the future of the dairy producer's advanced nutrition business. Snape tells clients that the pace of the turnaround has been reflected by a rally in Synlait's shares. He calls out the improvement in Synlait's ingredients business, continued cost control, and new business development within advanced nutrition. However, he warns that the latter could take a hit if a2 Milk, which had an exclusivity agreement with Synlait until January 2025, vertically integrates into supply chain assets. Bell Potter raises its target price to A$0.90 from A$0.425, and maintains a hold rating. Shares are up 2.5% at A$0.83. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 09, 2025 19:23 ET (23:23 GMT)
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