UPDATE: Bank of America Increases PO to $80 on Bed Bath & Beyond

Bank of America raises its price objective from $72 to $80 on Buy-rated Bed Bath & Beyond BBBY as the company drives solid Q4 on 6.8 percent comps. Bank of America says, "Reflecting 4Q results and continued strength, we are raising our estimates ahead of guidance. Our full year estimates are now as follows: 2012 EPS is $4.74 (from $4.58), on 5% comps; 2013 is $5.44 (from $5.24); and 2014 is $6.24. Our 1Q EPS estimate is $0.84 on a 4.5% comp ($0.82 on 3.5% prior)." BBBY closed at $66.23 a share on Wednesday.