Bullish Thesis on Bed Bath & Beyond (BBBY) Intact Despite In-Line Q1 - Nomura
Get Alerts BBBY Hot Sheet
Price: $0.08 --0%
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Nomura Securities analyst Aram Rubinson reiterated a Buy rating and raised his price target on Bed Bath & Beyond (NASDAQ: BBBY) from $80 to $82 following in-line Q1 results.
"Our positive thesis on BBBY remains intact, even if FQ1 fails to catalyze the shares," Rubinson said. "While results were good, our operating assumptions are slightly lower owing to more SG&A. In all, we hold our C2013 EPS estimate thanks to a lower tax rate assumption ($0.10). We think BBBY offers investors a combination of improving comp growth, capital return and optionality when it comes to the $1bn of net cash on the balance sheet."
The firm maintained FY 2013 EPS estimates of $5.25 and FY 2014 EPS was trimmed from $5.90 to $5.83.
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 $70.00 yesterday.
"Our positive thesis on BBBY remains intact, even if FQ1 fails to catalyze the shares," Rubinson said. "While results were good, our operating assumptions are slightly lower owing to more SG&A. In all, we hold our C2013 EPS estimate thanks to a lower tax rate assumption ($0.10). We think BBBY offers investors a combination of improving comp growth, capital return and optionality when it comes to the $1bn of net cash on the balance sheet."
The firm maintained FY 2013 EPS estimates of $5.25 and FY 2014 EPS was trimmed from $5.90 to $5.83.
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 $70.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 29Metals Ltd (29M:AU) PT Lowered to AUD0.50 at RBC Capital
- Craig-Hallum Upgrades Lands' End (LE) to Buy, 'the setup looks much better'
- UPS (UPS) PT Lowered to $150 at HSBC, 'on lower multiple to reflect continued de-rating'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!