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Morgan Stanley Reiterates Underweight Rating, $57 PT on Bed Bath & Beyond on Challenging Quarter

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In a report published Wednesday, Morgan Stanley analyst David Gober reiterated his Underweight rating and $57.00 price target on Bed Bath & Beyond (NASDAQ: BBBY).

In the report, Gober noted, “We remain UW shares and see 4Q as a challenging quarter for BBBY. Top-line compares vs. ‘11 are 270 bps more difficult and our AlphaWise survey shows Amazon.com taking meaningful share with Bed Bath's core consumers. We reduce 4Q comp estimates 30bp to 1.7% (cons 2.7%) and EPS to $1.66 (cons $1.68).”

Bed Bath & Beyond closed on Tuesday at $61.32.

Latest Ratings for BBBY

DateFirmActionFromTo
Feb 2016OppenheimerDowngradesOutperformSector Perform
Jan 2016KeyBancDowngradesSector WeightUnderweight
Jan 2016CitigroupDowngradesNeutralSell

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

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