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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Bed Bath & Beyond

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In a report published Friday, Jefferies & Company reiterated its Buy rating on Bed Bath & Beyond (NASDAQ: BBBY), but lowered its price target from $78.00 to $72.00.

Jefferies noted, “Expectations are washed out after two disappointing releases, but our checks suggest solid sales trends against easier compares, and we are increasingly confident in the ability to post a 3%-4% comp in 4Q. The Cost Plus acquisition creates opportunities to increase productivity next year and management's proven ability to drive efficiency should enhance the business's earnings profile. This is an excellent play on the housing cycle.”

Bed Bath & Beyond closed on Thursday at $57.87.

Latest Ratings for BBBY

DateFirmActionFromTo
May 2017Loop CapitalUpgradesSellHold
Dec 2016Raymond JamesDowngradesStrong BuyMarket Perform
Dec 2016Loop CapitalInitiates Coverage OnSell

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Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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