Market Overview

UPDATE: Oppenheimer Downgrades Bed Bath & Beyond to Perform on Limited Upside Drivers

Share:
Related BBBY
The Most Overpaid CEOs In S&P 500 Companies That Largely Underperformed The Market
Don't Get Burned By The 'Death Of The Mall' Trade

Oppenheimer reduced its rating on Bed Bath & Beyond (NASDAQ: BBBY) from Outperform to Perform with a reiterated $80 price target.

Oppenheimer commented, "Longer term prospects for the company remain upbeat. Nearer term we are increasingly concerned that the potential for consistent and meaningful sales and earnings upside at BBBY is beginning to wane as recent key product cycles and outsized market share opportunities fade and coupons again emerge as a more significant traffic driver for the chain. Investors are apt to scrutinize more closely sales and gross margin trends than ongoing gains from cost controls or buybacks. BBBY's position as a compelling “housing play” now seems well telegraphed in the market."

Bed Bath & Beyond closed at $70.77 on Monday.

Latest Ratings for BBBY

DateFirmActionFromTo
Dec 2016Raymond JamesDowngradesStrong BuyMarket Perform
Dec 2016Loop CapitalInitiates Coverage OnSell
Sep 2016UBSMaintainsNeutral

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (BBBY)

View Comments and Join the Discussion!