Major Chinese competitor joins the A2 party - Citi

Wed, 06 Nov 2019

A2 Milk will face increased competition after domestic Chinese infant formula player Junlebao launched an A2-protein formula, Citi said in a note. The stock is down 3.6 percent at $12.30 and Citi maintains a sell rating on the stock as it sees downside to its consensus margins over the medium term, partly due to increasing competition in China. Other risks include an increasing focus on topline growth over short-term profitability, the investment required to capitalise on the US and China opportunities and regulatory and structural headwind...

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