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In a report published Thursday, Oppenheimer analyst Brian Nagel commented on
Bed Bath & Beyond Inc.BBBY's
fourth quarter results, which were released on Wednesday after market close.
According to Nagel, Bed Bath & Beyond's results shows that its business model is in transition; specifically, in the early stages of developing an online strategy while tweaking its promotional offerings.
Nagel commented on the company's initial fiscal 2015 implied GAAP earnings per share guidance of $5.07 to $5.32, which is below the Street's estimate of $5.44. The company's first quarter earnings per share guidance of $0.90 to $0.95 is also short of the Street's $1.02 expectations. The analyst noted that the guidance reflects "to a certain extent" ongoing pressures in its existing business model.
Nevertheless, Nagel reiterated an Outperform rating and $85 price target given a favorable longer-term view of the company.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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