UPDATE: Wedbush Upgrades Bed Bath & Beyond (BBBY) to Outperform

(updated to add analyst comment)

Wedbush analyst Seth Basham upgraded Bed Bath & Beyond (NASDAQ: BBBY) from Neutral to Outperform with a price target of $16.00 (from $14.00).

• Sees deep value in the name not reflected in current valuation.
• Positive on upcoming two catalysts - 1. Naming of well-regarded and highly experienced CEO in conjunction with Wednesday's EPS report and 2. Improved investor understanding of underlying asset value when management begins selling on-core assets/owned real estate.

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 $9.89 yesterday.

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