Bed Bath & Beyond (BBBY) – Investment Analysts’ Recent Ratings Updates
A number of firms have modified their ratings and price targets on shares of Bed Bath & Beyond (NASDAQ: BBBY) recently:
- Bed Bath & Beyond had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $75.00 price target on the stock.
- Bed Bath & Beyond had its “overweight” rating reaffirmed by analysts at Barclays Capital. They now have a $76.00 price target on the stock.
- Bed Bath & Beyond was downgraded by analysts at Oppenheimer from an “outperform” rating to a “perform” rating. They now have a $80.00 price target on the stock. They wrote, “Longer term prospects for the company remain upbeat. Nearer term we are increasingly concerned that the potential for consistent and meaningful sales and earnings upside at BBBY is beginning to wane as recent key product cycles and outsized market share opportunities fade and coupons again emerge as a more significant traffic driver for the chain. Investors are apt to scrutinize more closely sales and gross margin trends than ongoing gains from cost controls or buybacks. BBBY’s position as a compelling “housing play” now seems well telegraphed in the market.”
- Bed Bath & Beyond ‘s EPS estimates were raised by analysts at UBS AG. They now have a “neutral” rating and a $72.60 price target on the stock. They previously had a $66.00 price target on the stock.
- Bed Bath & Beyond had its “buy” rating reaffirmed by analysts at SunTrust. They now have a $85.00 price target on the stock.
- Bed Bath & Beyond had its price target raised by analysts at Goldman Sachs from $74.00 to $77.00. They now have a “neutral” rating on the stock. They wrote, “We see a constructive short-term set-up as we approach BBBY’s 2Q2012 results on 9/19. For the quarter, we view both guidance and consensus as conservative, as sales guidance calls for steepening share losses, and imply a tougher margin performance than BBBY posted in a difficult 1Q. And, for the year, we see potential for nearly $0.10 of upside to consensus, based on accretion associated with the Cost Plus acquisition; we raise forecasts to embed accretion from the deal (our comments exclude transaction and integration costs, which will weigh on nominal 2Q results).”
Shares of Bed Bath & Beyond Inc. traded up 0.58% during mid-day trading on Wednesday, hitting $68.79. Bed Bath & Beyond Inc. has a 52 week low of $53.15 and a 52 week high of $75.84. The company has a market cap of $15.683 billion and a P/E ratio of 16.11.
Bed Bath & Beyond Inc. is a chain of retail stores, operating under the names Bed Bath & Beyond (BBB), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon) and buybuy BABY.