Shares in The a2 Milk Company jumped more than 6 per cent in early trade after quarterly results of rival multinational Danone SA showed growth in its China baby formula business channels.
Citi analyst Sam Teeger retained his “buy” call and the news bodes well for the baby formula and fresh milk company, which is due to update the market at its investor day next week on its strategy in China.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
