BUZZ — Australia's Baby Bunting Group jumps after reaffirming FY guidance
(Adds Citi note, updates share moves) * Shares of Baby Bunting Group Ltd rise as much as 11.8% to A$1.14, their biggest intraday gain since August 14 * Stock set to snap a 4-session long rally of losses, if current trend holds * Baby goods retailer reports 2.2% growth in underlying comparable store sales YTD as at October 4 * BBN reaffirms its annual guidance, expecting pro forma NPAT to be between A$19 million and A$21 million ($13.21 million and $14.61 million) * Citi says growth slowed from 4.3% in the first six weeks, but by less than feared over the 14-week period; Visible Alpha consensus sees 1H27 growth of 1.4% * Citi reiterates "Buy" rating and target price of A$3.18/shr * Of note, the Board acknowledged that the share price has yet to reflect operational progress delivered by the business, a comment we believe highlights the disconnect between fundamentals and valuation - Citi * YTD, stock down 57%, including the day's move ($1 = 1.4378 Australian dollars) (Reporting by Rudrannsh Mehra and Shivangi Lahiri in Bengaluru) ((Rudrannsh.Mehra@thomsonreuters.com;)
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