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BBBY

Bed Bath & Beyond

$21.50

0.27 (1.27%)

11:02
04/12/18
04/12
11:02
04/12/18
11:02

Bed Bath & Beyond downgraded to Underperform at Raymond James

As previously reported, Raymond James analyst Beryl Bugatch downgraded Bed Bath & Beyond to Underperform from Market Perform following quarterly results. Despite the array of initiatives announced by management, a key issue for the analyst is that the fleet of over 1,000 legacy Bed Bath & Beyond stores continue to deliver in-store mid-single-digit comp sales declines. Without some underlying growth in management generated earnings over the next two years, shareholder value is likely to erode further, he adds. Nonetheless, Bugatch points out that at its current valuation, Bed Bath may attract "activist" interest.

BBBY Bed Bath & Beyond
$21.50

0.27 (1.27%)

04/12/18
MSCO
04/12/18
NO CHANGE
Target $16
MSCO
Underweight
Bed Bath & Beyond price target lowered to $16 from $20 at Morgan Stanley
Morgan Stanley analyst Simeon Gutman said he is not convinced Bed Bath & Beyond's revenue will respond to the company's initiatives. Beyond a lift from the Babies R' Us bankruptcy, it is hard for him to see how the company can drive positive same-store sales without the aid of promotions, Gutman tells investors. He maintains an Underweight rating on Bed Bath shares and lowered his price target on the stock to $16 from $20.
04/12/18
RAJA
04/12/18
DOWNGRADE
RAJA
Underperform
Bed Bath & Beyond downgraded to Underperform at Raymond James
04/12/18
LOOP
04/12/18
NO CHANGE
LOOP
Bed Bath & Beyond price target lowered to $18 from $23 at Loop
Loop Capital analyst Anthony Chukumba lowered his price target on Bed Bath & Beyond to $18 from $23 and maintained a Hold rating following the company's "much worse-than-expected" FY18 earnings guidance and subsequent sell-off.
04/12/18
04/12/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Paycom (PAYC) downgraded to Equal Weight from Overweight at Barclays with analyst Raimo Lenschow saying the stock has meaningfully outperformed over the last year while estimate revisions have been limited. 2. J.B. Hunt (JBHT) downgraded to Sector Weight from Overweight at KeyBanc. 3. Devon Energy (DVN) downgraded to Outperform from Focus List at Scotia Howard Weil. 4. PJT Partners (PJT) downgraded to Hold from Buy at Sandler O'Neill with analyst Sumeet Mody saying after appreciating 17% year-to-date, the stock is approaching fair value. 5. Bed Bath & Beyond (BBBY) downgraded to Underperform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PM

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HRTX

Heron Therapeutics

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TGI

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$NSD

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$NYE

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TWTR

Twitter

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0.39 (1.24%)

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GE

General Electric

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Wabtec

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KMB

Kimberly-Clark

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DVMT

Dell Technologies

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WEN

Wendy's

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LITE

Lumentum

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ALXN

Alexion

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  • 26

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AKRX

Akorn

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TGT

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IWM

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XLP

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SGMS

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ALXN

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WAB

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$NSD

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