Deutsche Bank Upgrades Bed Bath and Beyond (BBBY) to Buy; Focus Should Return to Fundamentals

Deutsche Bank upgraded Bed Bath and Beyond (NASDAQ: BBBY) to Buy with a price target of $70.00.

Deutsche analyst said, "We are upgrading BBBY and raising PT as recent underperformance provides a good entry point for a share gainer with among the highest sales growth outlook in our space. We also like BBBY’s accelerating investments in e-commerce, an area where they have under invested in the past. Trading at 13.2x FY12, BBBY is a discount to the hardline average of 14.1x and its growth rate of 14%."

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 $62.01 yesterday.

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