Morgan Stanley reissued their underweight rating on shares of Bed Bath & Beyond (NASDAQ: BBBY) in a report released on Wednesday. Morgan Stanley currently has a $57.00 target price on the stock.
“We remain UW shares and see 4Q as a challenging quarter for BBBY. Top-line compares vs. ‘11 are 270 bps more difficult and our AlphaWise survey shows Amazon.com taking meaningful share with Bed Bath’s core consumers. We reduce 4Q comp estimates 30bp to 1.7% (cons 2.7%) and EPS to $1.66 (cons $1.68).,” the firm’s analyst commented.
Bed Bath & Beyond (NASDAQ: BBBY) traded up 0.26% on Wednesday, hitting $60.915. Bed Bath & Beyond has a 52-week low of $54.33 and a 52-week high of $75.84. The stock’s 50-day moving average is currently $58.61. The company has a market cap of $13.526 billion and a price-to-earnings ratio of 13.88.
BBBY has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein reiterated an outperform rating on shares of Bed Bath & Beyond in a research note to investors on Tuesday. They now have a $80.00 price target on the stock. Separately, analysts at Goldman Sachs downgraded shares of Bed Bath & Beyond to a sell rating in a research note to investors on Monday, February 11th.
Sixteen equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, eight have issued a hold rating, and two have assigned a sell rating to the company’s stock. Bed Bath & Beyond currently has a consensus rating of overweight and an average price target of $69.67.
Bed Bath & Beyond Inc. is a chain of retail stores, operating under the names Bed Bath & Beyond (BBB), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon) and buybuy BABY.
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