Blackmores' Brand and Moat Rating Remain Intact as CEO Departs for Australia Post, Maintaining FVE
We retain our AUD 119 per share fair value estimate for narrow moat Blackmores following the announcement of CEO Christine Holgate’s departure on Sept. 29. While this move introduces some uncertainty to the company’s near-term future, we don’t believe Holgate’s departure alters our long-term view of the firm. Furthermore, we consider the shares, which are currently trading at a 21% discount to our intrinsic assessment as undervalued.This announcement follows recent positive news of the appointm...
Blackmores is engaged in the development, sales and marketing of health products for humans and animals including vitamins and herbal and mineral nutritional supplements. As of June 30 2016, Co. operated in Australia, New Zealand and Asia.
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