The A2 Milk Company - Time for a Breather Downgrade to NEUTRAL
In-market execution is impressive, the earnings outlook continues to be de-risked, and ATM has a strong cash position of ~NZ$800m.
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The A2 Milk Company -1H24 Preview — Crawling Ahead
We expect 1H24 to be another period of The a2 Milk Company (ATM) ‘swimming against the tide’ well. Data continues to show strong market share...
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The A2 Milk Company - We Still Like the Formula
We retain our positive bias on The a2 Milk Company (ATM) heading into its 1H24 result on 19 February 2024 with our mosaic of datapoints continuing...
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The A2 Milk Company -A Positive Macro Surprise
Births in China during 2023 of 9.02m were +15% ahead of our 7.86m forecast (and likely notably ahead of market expectations). At this stage we...
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The A2 Milk Company -What if ATM Purchased SML Dunsandel?
The a2 Milk Company (ATM) is changing its stripes. It has well-publicised strategic intentions to vertically integrate its supply chain
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