Nomura Securities Maintains a 'Buy' on Bed Bath and Beyond (BBBY); Preview Ahead of FQ1 Results
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Price: $4.35 -2.03%
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Bed Bath and Beyond (NASDAQ: BBBY).
Nomura analyst, Aram Rubinson, said, "Street expectations call for EPS of $0.62 versus guidance of $0.58-$0.61. Raising our FQ1 estimate to $0.66 from $0.63, owing to a stronger comp forecast (+6%) and a belief that BBBY continues to keep inflation at bay. Our new forecast for BBBY continues to contemplate a deceleration from 19.9% in FQ4 to 14.4% in FQ1. Street estimates embed a two-year trend of only 12.4%. We are raising our price target to $68 from $65 on our higher estimates; however, despite offering 30% upside potential we think the target remains conservative in assuming a P/E (ex-cash) of only 13-14x and FCF yield (on EV) of 7%."
For more ratings news on Bed Bath and Beyond click here and for the rating history of Bed Bath and Beyond click here.
Shares of Bed Bath and Beyond closed at $52.64 yesterday.
Nomura analyst, Aram Rubinson, said, "Street expectations call for EPS of $0.62 versus guidance of $0.58-$0.61. Raising our FQ1 estimate to $0.66 from $0.63, owing to a stronger comp forecast (+6%) and a belief that BBBY continues to keep inflation at bay. Our new forecast for BBBY continues to contemplate a deceleration from 19.9% in FQ4 to 14.4% in FQ1. Street estimates embed a two-year trend of only 12.4%. We are raising our price target to $68 from $65 on our higher estimates; however, despite offering 30% upside potential we think the target remains conservative in assuming a P/E (ex-cash) of only 13-14x and FCF yield (on EV) of 7%."
For more ratings news on Bed Bath and Beyond click here and for the rating history of Bed Bath and Beyond click here.
Shares of Bed Bath and Beyond closed at $52.64 yesterday.
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