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UPDATE: Bank of America Downgrades Bed Bath & Beyond as Multiple is Likely Constrained Near-Term

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In a report published Thursday, Bank of America analyst Denise Chai downgraded the rating on Bed Bath & Beyond (NASDAQ: BBBY) from Buy to Neutral, and lowered the price target from $87.00 to $72.00.

In the report, Bank of America noted, “BBBY remains a leading home furnishings retail with a strong history of execution and the opportunity to expand core and non core concepts. However, in the nearer term, we believe relatively modest comp growth, EBIT margin pressure and no visible catalysts to reaccelerate earnings will constrain valuation and thus we believe a Neutral rating is warranted.”

Bed Bath & Beyond closed on Wednesday at $67.91.

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: Bank of America Denise ChaiAnalyst Color Downgrades Analyst Ratings

 

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