Ansell Ltd

ANN: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$79.80	Vzgbg	Qtqggdlsr

Ansell: Productivity Gains Are on Track

Shane Ponraj

Oct 24, 2023

We maintain our AUD 30 fair value estimate for narrow-moat Ansell following a brief trading update. Our fiscal 2024 EPS forecast of USD 1.01 remains within management’s reiterated guidance of USD 0.92 to USD 1.12. Customer destocking in surgical and life science businesses is expected to persist until the second half of fiscal 2024, but the worst appears to be behind Ansell with end-user demand largely back to normal.

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