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Fly News Breaks for January 27, 2016
DKS, BBBY
Jan 27, 2016 | 06:46 EDT
Citi analyst Kate McShane downgraded Bed Bath & Beyond (BBBY) to Sell on expectations the retailer's earnings will continue to decline over the next two years. Competition in home furnishings remains intense while the Bed Bath's e-commerce operations continue to be unprofitable. McShane cut her price target for the shares to $37 from $51. She recommends a pair trade of long Dick's Sporting (DKS), short Bed Bath. KeyBanc this morning also downgraded Bed Bath to a sell rating.
News For BBBY;DKS From the Last 2 Days
