Jefferies Maintains Buy on Bed Bath & Beyond After Weak 1Q Results

Jefferies & Company has published a research report on Bed Bath & Beyond

commenting on the company's weak shares after 1Q results. In the report, Jefferies writes, "Shares likely range-bound in the wake of the 1Q comp disappointment, particularly given concerns about consumer spending trends and poor 2Q EPS guidance. However, we continue to see a path to the upper $70s over the next 12 months. We would review our rating if core sales trends continued to look weak as we move further into the summer months." Jefferies maintains its Buy rating and $78 PT on Bed Bath & Beyond, which closed yesterday at $73.67.