UPDATE: Citigroup Upgrades Bed Bath & Beyond to Buy on Valuation, Differentiation Improvement

Loading...
Loading...
Citigroup upgraded Bed Bath & Beyond
BBBY
from Neutral to Buy and raised the price target from $63.00 to $67.00. Citigroup commented, "We are upgrading BBBY to Buy based on five key considerations: 1) attractive valuation due to ongoing stock weakness, 2) lapping of easier comparisons on GM and SG&A (~anniversarying increased coupon conversion and eCommerce investments), 3) internet threat appears overdone (~casa.com), 4) differentiation through Cost Plus, Harmon and Registry businesses, and 5) sq ftg growth opportunities with buybuy BABY." Bed Bath & Beyond closed at $58.35 on Monday.
Posted In: Analyst ColorUpgradesAnalyst RatingsCitigroup
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...