UBS points out PMI data for the fourth quarter indicates manufacturing is recovering at a faster-than-expected pace.
In the US, in the month of June manufacturing recovered to a level not seen in over 12 months.
Europe, while also rebounding significantly, had a greater trough in April and has not yet attained pre-pandemic levels.
UBS believes this signals Ansell will likely experience growth in both of its divisions, given sustained demand for healthcare gloves as well.
Neutral rating retained. The target is increased to $36.75 from $35.00.
Sector: Health Care Equipment & Services.
Target price is $36.75.Current Price is $37.48. Difference: ($0.73) – (brackets indicate current price is over target). If ANN meets the UBS target it will return approximately -2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
