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Why Canaccord Upgraded Bed Bath & Beyond

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Laura Champine of Canaccord Genuity upgraded shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) on Friday to Hold from Buy with a price target boosted to $91 from a previous $66 as sales momentum builds at the retailer.

Based on store visits and checks, Champine sees the possibility of “healthy market share gains” following a strong holiday season in which the company “turned in a strong showing.”

Accordingly, Champine raised her second half 2014 same-store sales estimated gains by 100 basis points and fiscal 2015 same-store sales gains by 70 basis points.

Latest Ratings for BBBY

DateFirmActionFromTo
Oct 2020Telsey Advisory GroupUpgradesMarket PerformOutperform
Oct 2020Morgan StanleyUpgradesUnderweightEqual-Weight
Oct 2020Raymond JamesMaintainsStrong Buy

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View the Latest Analyst Ratings

 

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Posted-In: Canaccord Genuity holiday sales Laura Champine retailersAnalyst Color Upgrades Price Target Analyst Ratings

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