BofA/Merrill analyst Curtis Nagle told investors in a research note that he is cautious on near-term trends for Bed Bath & Beyond, as it is operating without a permanent CEO and has yet to take any major steps to stage a turnaround after years of underperformance under the old executive team. The analyst, who lowered his FY19-FY21 EPS estimates to $1.89/$2.28/$2.87 from $1.96/$2.49/$3.09, lowered his price target to $20 from $21, and says he continues to see the fall as a reasonable timeframe for a new CEO announcement and decisions about selling non-core assets and 4.6 million square feet of owned real estate. Nagel reiterates a Buy rating, as he continues to see many avenues for earnings upside.