0019 GMT - Baby Bunting's full-year profit guidance looks easily attainable to the baby goods retailer's bull at Citi. Analyst Sam Teeger tells clients in a note that Baby Bunting should hit the top end of its A$9.5 million-A$12.5 million net profit guidance, or even exceed it. He points out like-for-like sales growth is already toward the top end of the 0%-3% growth assumed in the guidance, and still accelerating. Gross margin is also close to where it needs to be even before the benefit of supplier renegotiations, Teeger adds. He reckons that lower interest rates should also ease some pressure on customers. Citi raises its target price on the stock by 20% to A$2.42 and keeps a buy rating. Shares are down 0.8% at A$1.805. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 19:20 ET (00:20 GMT)
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