Jefferies Lifts Numbers on Bed Bath and Beyond (BBBY) After Strong Q4

April 5, 2012 8:02 AM EDT
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Price: $40.68 -0.51%

Rating Summary:
    6 Buy, 21 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies boosted estimates and its price target on Buy-rated Bed Bath and Beyond (NASDAQ: BBBY) from $72 to $78 following strong Q4 results after the close.

The firm comments, "... 4Q12 results provide some confirmation in our view that Bed Bath will thrive as sales in the home furnishings arena migrate into the direct channel. No doubt that the heated debate over price transparency and the threat of share erosion wages on, but an acceleration in e-commerce initiatives this year should reduce concern that the company is standing still."

FY12 EPS goes from $4.50 to $4.59.

For an analyst ratings summary and ratings history on Bed Bath and Beyond click here. For more ratings news on Bed Bath and Beyond click here.

Shares of Bed Bath and Beyond closed at $66.23 yesterday.

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