Two Directors at The A2 Milk Co Ltd bought/maiden bought 12,000 shares at between 9.460NZD and 9.475NZD. The significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's di...
The independent financial analyst theScreener just awarded an improved star rating to THE A2 MILK COMPANY (NZ), active in the Food Products industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 22, 2022, the cl...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
On 27 October, Kingsoft disclosed its 3Q20 results for the WPS Office segment, which is listed on STAR board as Kingsoft Office Software (688111 SH). The WPS Office segment reported 3Q20 revenue of Rmb587m, up 65% yoy vs our estimate of 40% yoy. EPS was Rmb0.52. The strong results reaffirm our positive view on Kingsoft. Maintain BUY with higher target price of HK$60.00, factoring in the better-than-expected growth from WPS Office.
Battleground Spot For Global Equities Last week we highlighted what appeared to be rising wedge breakdowns in the MSCI ACWI, ACWI ex-US, EM, and EAFE indexes, and suggested some consolidation made sense as we get a feel for how the process of re-opening the economy is going. It ended up being a very brief consolidation period and all horizontal support levels held strong. With all the aforementioned indexes breaking above the resistance levels that we highlighted last week, it tells us momentum...
Global Rally Losing Upside Momentum The global rally appears to be losing steam as the bearish rising wedge patterns we highlighted last week in the MSCI ACWI, ACWI ex-US, EM, and EAFE indexes ended up breaking down. Additionally, the aforementioned indexes and major indexes in Europe, Japan, and Hong Kong have been unable to break above longer-term resistance. While we believe global equities remain vulnerable to a pullback, some near-term consolidation is another possibility. For now we belie...
Major Indexes Testing Resistance Positive news flow surrounding COVID-19 is encouraging on many fronts, notably from a human and economic perspective (e.g., peaking infections/deaths in Italy & Spain, certain European governments making plans to ease lockdowns, and that US death projections were likely overestimated). Still, despite encouraging news and the relief rally in global equities, history tells us that this is a fairly standard bear market rally in terms of its magnitude, making us bel...
Another test of support Heightened trade tensions have caused global equities to move from resistance to support in a matter of days. Additional consolidation - i.e., no breakdowns - on the broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remains the most likely scenario. At the same time, new cracks are beginning to show and as a result we believe global equities are vulnerable to a breakdown. • New cracks emerging. Breakdowns in crude oil and new lows for the STOXX 600 Bank super...
We don’t expect China’s proposed regulations to support its domestic infant formula market will damage the market-share opportunities we see for narrow-moat a2 Milk, and we maintain our NZD 14.50 (AUD 13.60) fair value estimate. However, the stock appears fully valued, and doesn’t offer a margin of safety to account for the potential risk of further government regulation or change in competitive dynamics. China’s National Development and Reform Commission, or NDRC, has outlined several ...
We don’t expect China’s proposed regulations to support its domestic infant formula market will damage the market-share opportunities we see for narrow-moat a2 Milk, and we maintain our NZD 14.50 (AUD 13.60) fair value estimate. However, the stock appears fully valued, and doesn’t offer a margin of safety to account for the potential risk of further government regulation or change in competitive dynamics. China’s National Development and Reform Commission, or NDRC, has outlined several ...
We don’t expect China’s proposed regulations to support its domestic infant formula market will damage the market-share opportunities we see for narrow-moat a2 Milk, and we maintain our NZD 14.50 (AUD 13.60) fair value estimate. However, the stock appears fully valued, and doesn’t offer a margin of safety to account for the potential risk of further government regulation or change in competitive dynamics. China’s National Development and Reform Commission, or NDRC, has outlined several p...
We don’t expect China’s proposed regulations to support its domestic infant formula market will damage the market-share opportunities we see for narrow-moat a2 Milk, and we maintain our NZD 14.50 (AUD 13.60) fair value estimate. However, the stock appears fully valued, and doesn’t offer a margin of safety to account for the potential risk of further government regulation or change in competitive dynamics. China’s National Development and Reform Commission, or NDRC, has outlined several p...
Testing 200-day MA support Generally speaking most major indexes are currently trading at the lower end of their May trading ranges. Barring improving headlines regarding tariffs & trade or comments from the Fed suggesting a potential rate cut on the horizon - both of which would result in a weaker U.S. dollar - we believe global markets are vulnerable to further weakness. With global markets in purgatory, we are watching for support at the all-important 200-day moving averages on the S&P 500, ...
Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompass...
Narrow-moat a2 Milk’s rapid growth remains impressive, as highlighted by third-quarter fiscal 2019 results, and our long-term thesis continues to play out. We increase our fair value estimate to NZD 14.50 (AUD 13.60) to account for time value of money since our last update, but following a strong run, the stock now looks slightly overheated. Infant formula remains a2’s primary growth driver, and further market share gains in both Australia and China have led to 42% consolidated revenue grow...
Narrow-moat a2 Milk’s rapid growth remains impressive, as highlighted by third-quarter fiscal 2019 results, and our long-term thesis continues to play out. We increase our fair value estimate to NZD 14.50 (AUD 13.60) to account for time value of money since our last update, but following a strong run, the stock now looks slightly overheated. Infant formula remains a2’s primary growth driver, and further market share gains in both Australia and China have led to 42% consolidated revenue grow...
Narrow-moat a2 Milk’s rapid growth remains impressive, as highlighted by third-quarter fiscal 2019 results, and our long-term thesis continues to play out. We increase our fair value estimate to NZD 14.50 (AUD 13.60) to account for time value of money since our last update, but following a strong run, the stock now looks slightly overheated. Infant formula remains a2’s primary growth driver, and further market share gains in both Australia and China have led to 42% consolidated revenue grow...
Narrow-moat a2 Milk’s rapid growth remains impressive, as highlighted by third-quarter fiscal 2019 results, and our long-term thesis continues to play out. We increase our fair value estimate to NZD 14.50 (AUD 13.60) to account for time value of money since our last update, but following a strong run, the stock now looks slightly overheated. Infant formula remains a2’s primary growth driver, and further market share gains in both Australia and China have led to 42% consolidated revenue grow...
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