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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Bed Bath & Beyond

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In a report published Friday, Jefferies & Company reiterated its Buy rating on Bed Bath & Beyond (NASDAQ: BBBY), but lowered its price target from $78.00 to $72.00.

Jefferies noted, “Expectations are washed out after two disappointing releases, but our checks suggest solid sales trends against easier compares, and we are increasingly confident in the ability to post a 3%-4% comp in 4Q. The Cost Plus acquisition creates opportunities to increase productivity next year and management's proven ability to drive efficiency should enhance the business's earnings profile. This is an excellent play on the housing cycle.”

Bed Bath & Beyond closed on Thursday at $57.87.

Latest Ratings for BBBY

DateFirmActionFromTo
Aug 2014OppenheimerDowngradesOutperformMarket Perform
Jul 2014NomuraInitiates Coverage onNeutral
Jul 2014Bank of AmericaDowngradesNeutralUnderperform

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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