A2 Milk cut to underperform at First NZ as brokerage awaits proof Australian success can be replicated

Tue, 24 Nov 2015

By Jonathan Underhill Nov. 25 (BusinessDesk) - A2 Milk, whose shares soared 65 percent in just over two weeks, was cut to 'underperform' at brokerage First NZ Capital, which said it wants evidence the milk marketer can repeat its Australian success in other markets such as China, the UK and the US. The shares fell 0.8 percent to $1.22 on the NZX today, having soared to a record $1.27 yesterday from 77 cents on Nov. 6. A2 Milk, whose shares also trade on the ASX, has been part of an Australian rally driven in part by media reports of a sho...

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