0442 GMT - Baby Bunting's improving sales trends and margins are early signs of success for the baby goods retailer's turnaround plans, according to its new bull at Citi. Analyst Sam Teeger raises his recommendation on the stock to buy from neutral, telling clients that further performance enhancements could come from store openings and refurbishments. There's also potential for more positive margin surprises from the delayed impact of supplier renegotiations, he writes in a note. Teeger removes his prior high-risk rating from the stock, reflecting his increased confidence in the turnaround. Citi's target price rises 1.5% to A$2.01. Shares are up 12% at A$1.77. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 23:42 ET (04:42 GMT)
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