BBN - Morgan Stanley rates as Overweight
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Baby Bunting's result was in line with guidance downgraded in November. The second half has started well and the broker has confidence in FY guidance given margins have stabilised, new prams are set for release, car seat restocking will help drive sales and a major competitor has closed.
Overweight and $2.00 target retained. Industry view: In Line.
Target price is $2.00.Current Price is $1.56. Difference: $0.44 - (brackets indicate current price is over target). If BBN meets the Morgan Stanley target it will return approximately 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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