Back in late August A2M finally delivered some good news for shareholders which sent the stock up +10% – they delivered a solid FY22 result and announced a NZ$150mn buyback plus stating that sales would be up high single digits in FY23, higher margins mean earnings will increase by more. The combination of better margins and a buy-back was enough to excite investors after the stock’s painful 2-year demise.
- We can see the next 20% for A2M on the upside especially with China making some positive reopening noises.
MM likes A2M around $6 as a recovery play
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