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

Bubs Australia

01/11/2024 24:22

** Analysts at Bell Potter cut target price for Bubs Australia
 BUB.AX  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))