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Does MM like Baby Bunting after its AGM?

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Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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Question asked 17/10/2022

Does MM like Baby Bunting after its AGM?

Hi Guys, Back in August I asked your opinion about Baby Bunting, and since then the share price has continued to correct; although this week it popped together with the rest of the market. It currently sits at around $4, which may appear as good value. Their AGM is on 11 Oct, and if they report well as Premier did, I would expect the price to jump significantly. Do you rather wait for the AGM and de-risk, or is this worth jumping ahead? Many thanks, Angela

Answer

Hi Angela,

Sorry this answer came after Baby Buntings (BBN) AGM which as we discussed in Wednesdays report sent the stock down over 20% registering fresh 2-year lows in the process.

As we outlined with margins under pressure it’s currently hard to become excited for the company although the sharp drop has brought the stock back to a more interesting Est PE of 12x for 2023 earnings. However the dynamics of the baby segment are an ongoing concern due to intense competition, particularly with the discount department stores, hence the stocks not on our radar for now – for broader comments and to see broker consensus on BBN, Click Here

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Baby Bunting Group Ltd (BBN)

LAST UPDATED 12/10/2022 15:52

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