Although the Bellamy's Australia Ltd (ASX: BAL) share price finished the day almost 3% lower at $12.38, at one stage on Friday the infant formula and baby company's shares raced higher to a 52-week high of $12.86.
It has been a remarkable turnaround for the company. Less than 10 months ago its shares were as low as $3.65 and its future looked somewhat uncertain.
Fast forward to today and the future is becoming increasingly brighter and its shares are 250% higher.
And as we revealed last month, its shares could still climb higher from here.
According to a note out of Citi, its analysts upgraded Bellamy's all the way from a sell rating to a (high risk) buy rating.
As well as this, Citi increased its price target to $14.40 from just $7.90. This price target implies potential upside of over 16% from the current share price.
But whether it manages to scale to those heights again, only time will tell.
