Nomura Securities Maintains a 'Neutral' on Bed Bath and Beyond (BBBY); Q4 Preview
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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 'Neutral' on Bed Bath and Beyond (NASDAQ: BBBY) price target of $63.00.
Analyst, Aram Rubinson, said, "Our model is a bit too conservative with 3.0% comps and EPS of $1.27 (Street at $1.32) and guidance of $1.28-$1.33. With an improving economy, Street estimates that are relatively undemanding, and in our view an attractive valuation, BBBY shares should technically be set up for out-performance. However, we maintain a Neutral rating. We believe the focus will not be FQ4 results, but the outlook for 2012 and the potential for disruption due to changes in the merchandising ranks. Our 2012E EPS is $4.26 (Street at $4.46), 5% lower than consensus as we expect pressure from investment spending. EBIT margins of ~16% are pretty rich and may need to go backwards before they resume forward progress."
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 $65.73 yesterday.
Analyst, Aram Rubinson, said, "Our model is a bit too conservative with 3.0% comps and EPS of $1.27 (Street at $1.32) and guidance of $1.28-$1.33. With an improving economy, Street estimates that are relatively undemanding, and in our view an attractive valuation, BBBY shares should technically be set up for out-performance. However, we maintain a Neutral rating. We believe the focus will not be FQ4 results, but the outlook for 2012 and the potential for disruption due to changes in the merchandising ranks. Our 2012E EPS is $4.26 (Street at $4.46), 5% lower than consensus as we expect pressure from investment spending. EBIT margins of ~16% are pretty rich and may need to go backwards before they resume forward progress."
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 $65.73 yesterday.
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