One of the best performers on the S&P/ASX 200 index in 2019 has been the A2 Milk Company Ltd (ASX: A2M) share price.
Since the start of the year the fresh milk and infant formula company's shares have gained a sizeable 41%.
Why is the a2 Milk share price up 41% in 2019?
Investors have been scrambling to get hold of the company's shares this year after it delivered yet another impressive set of results.
In its most recent update at the Macquarie Group Ltd (ASX: MQG) conference in May, a2 Milk Company revealed its results for the nine months to March 31.
According to the release, over the nine months the company has seen its total revenue increase 42% on the prior corresponding period to NZ$938 million. Management advised that this reflected continued sales growth in nutritional products and liquid milk.
And although the company's margins will narrow slightly due to a material marketing investment, it is still positioned to deliver another bumper full year profit result.
Is it too late to buy shares?
Despite the impressive share price rally in 2019, I don't believe it is too late to invest and would still consider the company to be one of the best buy and hold investment options on the market.
This is due to its massive market opportunity in China and the growth of its fresh milk in the United States.
One broker that agrees that it isn't too late to buy shares is Goldman Sachs.
Late last month the broker released a note which revealed that its analysts have retained their buy rating and $15.70 price target on the company's shares.
This price target implies potential upside of around 11% over the next 12 months.
Goldman Sachs appears confident that the company can continue to grow its market share in China, underpinning strong earnings growth for a number of years to come.
It is largely for this reason that the broker prefers a2 Milk Company over rival Bellamy's Australia Ltd (ASX: BAL) at present. A recent note out of the investment bank reveals that it has a neutral rating and $9.00 price target on Bellamy's shares.
