Citi trims PT on Australian nursery retailer Baby Bunting Group

** Citi reduces price target for nursery retailer Baby Bunting Group Ltd BBBN to A$1.59 from A$1.70

** Lowers outlook for FY24 to FY26 core NPAT by A$8 million ($5.29 million) to A$3 million to reflect co's FY24 guidance, and weaker-than-expected like-for-like sales and gross margins

** Brokerage expects an improvement in LFL sales in FY25, but warns of downside risks to forecast if the softness in the baby goods category seen in its trading update continues

** 5 of 8 analysts rate the stock "buy", 3 "hold"; their median PT is A$1.88 – LSEG data

** Stock has fallen 27.25% this year, as of last close

($1 = 1.5110 Australian dollars)