The a2 Milk Co Ltd
ATM: XNZE (NZL)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| NZD 9.00 | Ddzczh | Hyvsqhc |
A2 Milk Company's Moat Is Underpinned by Its Infant Formula Brand in China
Business Strategy and Outlook
A2 Milk has built a brand that we expect to protect economic profits for years to come. China is the key battleground. A2's future growth relies heavily on further successful penetration of the Chinese infant formula market, which we estimate makes up the vast majority of earnings.