Baby Bunting Group: Brighter horizons - FY23 earnings and upgrade to ADD

About the author:

Alexander Mees
Author name:
By Alexander Mees
Job title:
Co-Head of Research and Senior Analyst
Date posted:
14 August 2023, 7:30 AM
Sectors Covered:
Gaming and Retail

  • Baby Bunting Group's (ASX:BBN) FY23 earnings result was in line with the pre-release. A 51% fall in NPAT was a function of an overrunning cost base, LFL sales decline and investment in growth.
  • We increase our NPAT estimates by 17% in FY24 and 7% in FY25 as a result of cost-out initiatives and higher sales assumptions.
  • With >20% TSR to our (login to view) target price, we upgrade to ADD.

Find out more

Download full research note

You can find further detailed analysis of company results this reporting season by browsing our reporting season tag, and view a full list of upcoming results on our Reporting Season Calendar.

If you would like more information, please contact your adviser or nearest Morgans office.

Request a call Find local branch

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

  • Print this page
  • Copy Link