UPDATE: Wedbush Increases PT to $82 on Bed Bath & Beyond
Wedbush raises its price objective from $80 to $82 on Buy-rated Bed Bath & Beyond (NASDAQ: BBBY) as the company 's solid Q4 reflects competitive advantages.
Wedbush says, "We reiterate our OUTPERFORM rating, as we believe the company should continue to benefit from industry dominance, good visibility for cross-merchandising opportunities, future growth potential for newer concepts, and strong balance sheet and cash flow. Longer term, we remain a believer in BBBY and see several distinct performance drivers: well-differentiated assortments at the core BBBY and cross-concept merchandising evolving (HBA, food) to driveexisting store comps, and marketing and coupons continue to drive traffic"
BBBY closed at $66.23 a share on Wednesday.
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