2237 GMT - Bubs Australia's better-than-expected second-quarter margins aren't enough to turn Citi bullish on the infant-formula maker, but do offer analyst James Wang some encouragement about its outlook. Wang writes in a note to clients that Bubs' 48% gross profit margin was well ahead of his forecast of 40%. The company's expectation of A$2.9 million in first-half Ebitda compares with his previous forecast of a loss. With sales momentum improving, Wang brings forward the timing of what he says will be an annual earnings recovery to the current fiscal year. Citi lifts its target price 7.7% to A$0.14 and stays neutral on the stock, which is at A$0.12 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 17:37 ET (22:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。