Bell Potter lowers A2 Milk to 'hold'

Tue, 28 Mar 2023

Bell Potter analysts have lowered their rating on A2 Milk to “hold” from “buy” after Synlait Milk’s first-half result.Analysts Jonathan Snape and Chris Savage said they saw more in yesterday’s result from Synlait Milk to support their current forecasts rather than “make us consider materially upgrading them”. 'While we like the long-term story in A2 Milk, we are cognisant that FY24 market expectations are higher than ours."Synlait reported a net profit of $4.8 million in the six mont...

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