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Fly News Breaks for September 20, 2017
BBBY
Sep 20, 2017 | 08:33 EDT
Morgan Stanley analyst Simeon Gutman noted that Bed Bath & Beyond's store traffic worsened in Q2 compared to the prior quarter and its gross margin contracted 100 basis points, neither of which is a trend he sees improving given the competitive environment in home furnishings. The analyst, who keeps an Underweight rating on Bed Bath, lowered his price target on the stock to $23 from $30.
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