Citi analysts have recently increased their price target for Australian glove manufacturer, Ansell (ASX:ANN) from A$25.00 to A$26.00, maintaining a neutral rating.

They expect Ansell’s productivity investment program to bring in $45 million in pre-tax annualised benefits.

In its report for FY23, Ansell announced an adjusted EPS of 115.3 U.S.

cents per share, showing a decrease from last year’s 138.6 cents.

Moving forward, an adjusted EPS between 92 and 112 U.S.

cents is expected for FY24, while Citi predicts 94 cents.

Ansell’s second largest revenue source, the industrial unit, may face certain macro-level difficulties such as foreign exchange volatility and prevailing economic scenarios.

For FY24, Citi anticipates a core net profit of $118.8 million and $141.3 million for FY25, down from $145.6 million for FY23.

Currently, 9 out of 11 analysts recommend a hold status for Ansell, with 2 advising a sell.

The median price target is A$25.24.

As of latest data, Ansell shares have fallen by 16.2% this year.

Ansell (ASX:ANN) is an Australian-based company specializing in manufacturing industrial safety equipment.