BB&T says the unfounded rumors of a Bed Bath & Beyond BBY takeover are unfounded and analysts are advising clients to sell shares of The Container Store TCS into the strength.
BB&T says " we would use Friday's stock price jump as a selling opportunity, as we think once "calmer heads prevail" investors will realize the chances of a BBY/TCS deal are slim and focus instead on the company's weak fundamentals and astronomical valuation."
BB&T is speculating that Leonard Green may use his stake to compel Bed Bath & Beyond BBY to acquire TCS 'thereby allowing the firm to fully monetize its TCS investment and BB&T believes a fractional amount of TCS's stock price appreciation on Friday may be attributable to short-sellers covering their shorts.
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