BUZZ-Bell Potter cuts PT for Bubs Australia on higher cash burn, shares slip

Reuters11-01

** Analysts at Bell Potter cut target price for Bubs Australia

to A$0.145/shr from A$0.150/shr over cash burn ** BUB reported on Thursday a higher operating cash outflow of A$4.9 mln ($3.22 mln) vs A$4.4 mln of outflows in 1Q24

** "The current share price looks to appropriately balance the risks between brand upside and the tight net cash position of the business" — Bell Potter

** Shares of BUB fall as much as 8% to A$0.115 ** BUB appoints Naomi Verloop as chief financial officer

** Stock down 11.5% YTD, including session's moves

($1 = 1.5211 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru) ((mailto:shivangi.lahiri@thomsonreuters.com))

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