Bed Bath & Beyond (BBBY) Has Kryptonite to Protect it from Amazon (AMZN) Attack - Oppenheimer
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Price: $70.69 --0%
Rating Summary:
11 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Rating Summary:
11 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Trade BBBY Now!
Oppenheimer reiterated their Outperform rating and $71 price target on Bed Bath & Beyond (NASDAQ: BBBY) Thursday, saying the company's coupon strategy insulates them from attacks by online giant Amazon.com (NASDAQ: AMZN) and others.
"Our conversations with clients suggest that the market remains acutely concerned with the risk of amazon.com (AMZN) and other Internet chains under-pricing and potentially stealing share from Bed Bath & Beyond," analyst Brian Nagel states. "These concerns have merit. BBBY has been lax in its online effort. The aggressive pricing and unmatched convenience of AMZN have wreaked havoc on the profits of many once successful traditional chains. Our work suggests, however, that from a pure pricing perspective BBBY might not be the sitting duck that many fear. In a proprietary product pricing study we found that with coupons customers can often purchase products at BBBY at a significant discount to AMZN. We recommend BBBY with a longer term-oriented Outperform rating."
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 $61.92 yesterday, with a 52 week range of $54.33-$75.84.
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"Our conversations with clients suggest that the market remains acutely concerned with the risk of amazon.com (AMZN) and other Internet chains under-pricing and potentially stealing share from Bed Bath & Beyond," analyst Brian Nagel states. "These concerns have merit. BBBY has been lax in its online effort. The aggressive pricing and unmatched convenience of AMZN have wreaked havoc on the profits of many once successful traditional chains. Our work suggests, however, that from a pure pricing perspective BBBY might not be the sitting duck that many fear. In a proprietary product pricing study we found that with coupons customers can often purchase products at BBBY at a significant discount to AMZN. We recommend BBBY with a longer term-oriented Outperform rating."
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 $61.92 yesterday, with a 52 week range of $54.33-$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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