The Blackmores Limited (ASX: BKL) share price climbed 3.4% to $96.40 in early trade today after news wires reported that the investment research arm of Morgan Stanley has upgraded the shares to an "equal weight" rating.
Blackmores' shares have been under selling pressure through most of FY19, after the group warned sales to Chinese consumers either in Australia or direct into China were down around 6% overall for the quarter ending 31 March 2019.
China has long been pinged as a great growth opportunity for Blackmores' investors so it will be a big priority to turn around the sales slowdown in the country.
Elsewhere in Asia the company continues to deliver strong sales growth, with Hong Kong sales up 18%, Malaysia up 32%, and Indonesia up 99%.
However, its core business region remains Australia and New Zealand, where financial year-to-date sales as at 31 March 2019 were up 3% with overall sales up 6%.
