The share price of A2 Milk Company Ltd [ASX:A2M] rose 8% today, following an upgraded rating by UBS Wealth Management. They set a price target of $16.68.
Bubs Australia Ltd [ASX:BUB] is today the beneficiary of positive investor sentiment after the announcement of a strategic channel partnership between Bubs and Kidswant, a prominent baby retail chain in China.
At time of writing, Bellamy’s share price is trading up 6.83%, at a price of $10.63.This time last week, Bellamy’s shares were down to $7.80 at one point, their lowest price since October 2017.
Bellamy’s share price has been on the decline since it hit its peak of $23.07 back in March of last year. The past 12 months has seen the share price drop by almost 55% — prices haven’t been this low since October of 2017.
The major infant food and formula producers on the ASX have fallen again this week, with a2 Milk Company share price, as well as Bellamy’s Australia and Clover Corporation all facing increased market pressure.
It seems that Morgan Stanley’s belief in the company and its potential to turn around (stated in January) is still helping Bellamy’s growth, meaning we could see further gains to Bellamy’s share price in the near future.
Bellamy’s share price has risen by 6.16% at the time of writing, following a strong financial performance in 2018. Near-to-medium-term outlook remains positive as their three-year growth strategy takes effect.
At time of writing, shares of Bellamy’s Australia Ltd [ASX:BAL] are down 8.1% today, trading at $7.33 apiece.
The Bega Cheese Ltd [ASX:BGA] share price plunged over 5% yesterday after emerging from its trading halt.
While it’s not news that the company has seen a troubling continuing decline in the past six months, it’s unclear exactly why Bellamy’s Australia Ltd [ASX:BAL] saw a considerable drop today.