Market Overview

UPDATE: Citigroup Upgrades Bed Bath & Beyond to Buy on Valuation, Differentiation Improvement

Share:
Related BBBY
CNBC's Stock Pops & Drops From June 25
Worst Performing Industries For June 25, 2015
The Risks To Bed Bath & Beyond's Online Sales Growth (Seeking Alpha)

Citigroup upgraded Bed Bath & Beyond (NASDAQ: BBBY) from Neutral to Buy and raised the price target from $63.00 to $67.00.

Citigroup commented, "We are upgrading BBBY to Buy based on five key considerations: 1) attractive valuation due to ongoing stock weakness, 2) lapping of easier comparisons on GM and SG&A (~anniversarying increased coupon conversion and eCommerce investments), 3) internet threat appears overdone (~casa.com), 4) differentiation through Cost Plus, Harmon and Registry businesses, and 5) sq ftg growth opportunities with buybuy BABY."

Bed Bath & Beyond closed at $58.35 on Monday.

Latest Ratings for BBBY

DateFirmActionFromTo
Jun 2015Morgan StanleyMaintainsUnderweight
Apr 2015Cantor FitzgeraldInitiates Coverage onBuy
Apr 2015Deutsche BankMaintainsHold

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (BBBY)

Around the Web, We're Loving...

Get Benzinga's Newsletters