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BBBY

Bed Bath & Beyond

$9.89

0.09 (0.92%)

07:04
09/30/19
09/30
07:04
09/30/19
07:04

Wedbush upgrades Bed Bath & Beyond to Outperform, sees 62% upside potential

Wedbush analyst Seth Basham upgraded Bed Bath & Beyond to Outperform from Neutral and raised his price target for the shares to $16 from $14, which represents 62% upside potential. The retailer closed Friday up 9c to $9.89. Turning around declining retailers is a very difficult task, particularly amidst unfavorable secular trends and soft industry sales growth, but Bed Bath & Beyond has a "good chance of stabilization" in earnings over the next two years as its changes take hold, Basham tells investors in a research note. The company has a reconstituted board with "much-improved" governance, is resetting its cost structure, has a plan to reduce inventory by 35%, is rapidly refreshing stores to improve the shopping experience, has launched two private label brands, and is evaluating opportunities to leverage its store lease expiration cadence and sell noncore assets, explains the analyst. Further, Basham believes buy-side expectations are "very low."

  • 02

    Oct

BBBY Bed Bath & Beyond
$9.89

0.09 (0.92%)

07/23/19
JEFF
07/23/19
NO CHANGE
Target $192
JEFF
Buy
Wayfair well positioned to take wedding registry market share, says Jefferies
Jefferies analyst Jonathan Matuszewski says his web analytics, pricing, and survey work prove Wayfair (W) is "uniquely-positioned to succeed in the attractive registry market." A high degree of market share currently resides with "struggling peers" like Bed Bath & Beyond (BBBY) and Macy's (M), presenting Wayfair with an opportunity to acquire engaged couples and their roughly 70M guests annually, Matuszewski tells investors in a research note. He estimates over $200M in 2022 wedding registry sales for Wayfair just from active customers, and over $600M when factoring in new customers and other occasions. The analyst reiterates a Buy rating on the shares with a $192 price target. The online retailer closed Monday down 38c to $145.00.
08/09/19
EVER
08/09/19
UPGRADE
EVER
In Line
Bed Bath & Beyond upgraded to In Line from Underperform at Evercore ISI
08/20/19
BOFA
08/20/19
NO CHANGE
Target $20
BOFA
Buy
Bed Bath & Beyond price target lowered to $20 from $21 at BofA/Merrill
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.
09/30/19
WEDB
09/30/19
UPGRADE
WEDB
Outperform
Bed Bath & Beyond upgraded to Outperform from Neutral at Wedbush

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BKU

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STNE

StoneCo

$38.31

0.52 (1.38%)

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APHA

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MDLZ

Mondelez

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AIRG

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PTON

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INST

Instructure

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