Market Overview

UPDATE: Canaccord Genuity Upgrades Bed Bath & Beyond to Buy on Cost Plus Catalyst

Share:
Related BBBY
Moas On Tesla: 'I Wouldn't Pay $180 For This Thing'
What To Make Of Bed Bath & Beyond's Q4 Earnings
Robert Olstein: Buy Bed Bath And Beyond, Stay Away From Netflix and Amazon (GuruFocus)

Canaccord Genuity raised its rating on Bed Bath & Beyond (NASDAQ: BBBY) from Hold to Buy and increased its price target from $71 to $75.

Canaccord Genuity noted, "BBBY shares have declined 15% since 6/20 when the company issued Q2 EPS guidance that fell short of expectations. … We view this as an opportunity for investors to buy a high-quality company just as the addition of Cost Plus becomes a potential growth lever. We believe Cost Plus' contribution to EPS will grow from $0.01 in F2012 to $0.32 by F2016. BBBY still has around $1B in cash following recent acquisitions which will support much-needed investments in technology and the return of capital to shareholders."

Bed Bath & Beyond closed at $62.78 on Friday.

Latest Ratings for BBBY

DateFirmActionFromTo
Apr 2016CitigroupMaintainsSell
Mar 2016Credit SuisseMaintainsNeutral
Mar 2016BarclaysInitiates Coverage onEqual-weight

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (BBBY)

View Comments and Join the Discussion!