Bubs Australia Needs Strong 4Q to Hit Target -- Market Talk

Dow Jones05-01

0424 GMT - Bubs Australia's softer-than-expected 3Q leaves the infant-formula supplier requiring a strong finish to its fiscal year to hit its A$100 million annual sales target, Bell Potter analyst Jonathan Snape says. He writes in a note to clients that the ASX-listed company's March-quarter revenue of A$19.9 million fell short of his A$27.4 million forecast on softness in the U.S. and China. He acknowledges that Bubs is confident that 4Q gross sales will be at least 58% higher than those in 3Q, which allows it to hit its full-year target, but keeps a speculative hold rating on the stock, which is down 1.7% at A$0.1475. Target price rises 7.1% to A$0.15. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 01, 2024 00:24 ET (04:24 GMT)

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He acknowledges that Bubs is confident that 4Q gross sales will be at least 58% higher than those in 3Q, which allows it to hit its full-year target, but keeps a speculative hold rating on the stock, which is down 1.7% at A$0.1475. Target price rises 7.1% to A$0.15. 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He writes in a note to clients that the ASX-listed company's March-quarter revenue of A$19.9 million fell short of his A$27.4 million forecast on softness in the U.S. and China. He acknowledges that Bubs is confident that 4Q gross sales will be at least 58% higher than those in 3Q, which allows it to hit its full-year target, but keeps a speculative hold rating on the stock, which is down 1.7% at A$0.1475. Target price rises 7.1% to A$0.15. 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He writes in a note to clients that the ASX-listed company's March-quarter revenue of A$19.9 million fell short of his A$27.4 million forecast on softness in the U.S. and China. He acknowledges that Bubs is confident that 4Q gross sales will be at least 58% higher than those in 3Q, which allows it to hit its full-year target, but keeps a speculative hold rating on the stock, which is down 1.7% at A$0.1475. Target price rises 7.1% to A$0.15. 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