BBN – Morgan Stanley rates the stock as Overweight

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Baby Bunting has reiterated FY20 guidance for operating earnings (EBITDA) of $34-37m and net profit of $20-22m. Morgan Stanley notes the expected gross margin of 36.6% is ahead of expectations.

Overweight maintained. Target is $3.50. Industry view is In-line.

Sector: Retailing.

Target price is $3.50.Current Price is $3.63. Difference: ($0.13) – (brackets indicate current price is over target). If BBN meets the Morgan Stanley target it will return approximately -4% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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