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In a report published Thursday, Bank of America analyst Denise Chai downgraded the rating on
Bed Bath & BeyondBBBY from Buy to Neutral, and lowered the price target from $87.00 to $72.00.
In the report, Bank of America noted, “BBBY remains a leading home furnishings retail with a strong history of execution and the opportunity to expand core and non core concepts. However, in the nearer term, we believe relatively modest comp growth, EBIT margin pressure and no visible catalysts to reaccelerate earnings will constrain valuation and thus we believe a Neutral rating is warranted.”
Bed Bath & Beyond closed on Wednesday at $67.91.
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