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Fly News Breaks for September 14, 2017
BBBY
Sep 14, 2017 | 07:23 EDT
UBS analyst Michael Lasser does not think Q2 will mark a significant turnaround in Bed, Bath & Beyond's fortunes. He believes competition will lead to further deterioration in same-store sales, leaving them in negative territory for Q2. He also does not believe its profitability will stabilize, something investors will look for before rewarding it with a meaningfully higher multiple. Lasser maintained his Neutral rating and lowered his price target to $30 from $33 on Bed, Bath & Beyond shares.
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