0405 GMT - A2 Milk's bull at Citi sees another positive sign for the dairy product supplier buried in the annual result at one of its manufacturers. Analyst Sam Teeger points to Synlait's observation that Ebitda, operating cash flow and covenant metrics for August--the first month after the close of its last fiscal year--beat management's expectations. Additionally, September production is tracking in line with, or ahead of, plans across a number of key product categories, Teeger says in a note. Citi has a buy rating on A2's Australia-listed stock and a target price of 7.40 Australian dollars. Shares are up 2.7% at A$6.83.