Barclays Defends Bed Bath & Beyond (BBBY); Q1 Tops; CPWM Acquisition A Source of Upside; Remains Top Pick
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Price: $68.72 -1.16%
Rating Summary:
10 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
10 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade BBBY Now!
Barclays reiterates an 'Overweight' on Bed Bath & Beyond (NASDAQ: BBBY) price target of $76.00.
Analyst, Alan M. Rifkin, said, "The company beat our $0.83 1Q EPS estimate as well as company guidance of $0.79 - $0.83...Despite the lower-than-expected comp, we continue to believe that Bed Bath's core operations are performing well and expect the company to continue to benefit from its relatively defensive, lower-ticket operating position. While we expect Bed Bath shares to underperform tomorrow, the Bed Bath story, in our view, remains very much intact."
Barclays maintains 2012 EPS estimate of $4.70, FY13 EPS of $5.29 and FY14 EPS estimate of $6.11 (estimates include accretion from the Cost Plus acquisition)
Bottom line: BBBY Remains A Barclays Top Pick
For an analyst ratings summary and ratings history on Bed Bath & Beyond click here. For more ratings news on Bed Bath & Beyond click here.
Shares of Bed Bath & Beyond closed at $73.67 yesterday, with a 52 week range of $48.75-$75.84.
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Analyst, Alan M. Rifkin, said, "The company beat our $0.83 1Q EPS estimate as well as company guidance of $0.79 - $0.83...Despite the lower-than-expected comp, we continue to believe that Bed Bath's core operations are performing well and expect the company to continue to benefit from its relatively defensive, lower-ticket operating position. While we expect Bed Bath shares to underperform tomorrow, the Bed Bath story, in our view, remains very much intact."
Barclays maintains 2012 EPS estimate of $4.70, FY13 EPS of $5.29 and FY14 EPS estimate of $6.11 (estimates include accretion from the Cost Plus acquisition)
Bottom line: BBBY Remains A Barclays Top Pick
For an analyst ratings summary and ratings history on Bed Bath & Beyond click here. For more ratings news on Bed Bath & Beyond click here.
Shares of Bed Bath & Beyond closed at $73.67 yesterday, with a 52 week range of $48.75-$75.84.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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