Barclays Reiterates an 'Overweight' on Bed Bath & Beyond (BBBY); Top Pick in Hardline Retail Space

August 27, 2012 1:43 PM EDT
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Price: $39.97 --0%

Rating Summary:
    6 Buy, 21 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 5 | New: 5
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Barclays reiterates an 'Overweight' on Bed Bath & Beyond (NASDAQ: BBBY) price target of $76.00.

Analyst, Alan M. Rifkin, said, "In our view, BBBY remains one of the most attractive players in the home furnishings space, with its consistent track record of cash flow generation and earnings growth still largely underappreciated by the Street."

Rifkin remains comfortable with FY12/13 EPS estimate at $4.70 and $5.29. He also expects to see sequential acceleration in comps from 1Q to 2Q (of 4.5%). Other positive highlights include: 1) Verismo on store shelves by Holidays; 2) CPWM integration on track; and 3) moving headquarters a long-term positive.

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 $66.40 yesterday.

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