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Fly News Breaks for September 20, 2017
BBBY
Sep 20, 2017 | 14:43 EDT
Deutsche Bank analyst Mike Baker cut his price target for Bed Bath & Beyond shares to $21 saying last night's Q2 results were "tougher than even cautious views." The stock in afternoon trading is down 16%, or $4.40, to $22.64. The analyst credits management for continuing to proactively invest in an attempt to compete in a changing home goods landscape, but points out the retailer's "precipitous" margin declines continue. In an intraday research note titled "Two Steps Back, One Step Forward," Baker keeps a Hold rating on Bed Bath & Beyond.
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