Wedbush Reiterates Neutral Rating Ahead of Bed Bath & Beyond (BBBY) F1Q Results.

Wedbush reiterates a Neutral rating and $70.00 price target on Bed Bath & Beyond (NASDAQ: BBBY) ahead of its F1Q earnings release. Guidance for EPS is 9% below consensus, at the time guidance appears conservative. BBBY is scheduled to release its earnings report after market closes on June 24th.

Analyst Seth Basham commented, "BBBY’s earnings report on Wednesday, June 24 AMC comes amidst a choppy sales and more promotional environment in the home furnishings category. Yet, BBBY may have de-risked the quarter with conservative guidance. We look for an inline to better than consensus quarter on comps, gross margins and possibly EPS; that would be a stark change for a company that has missed earnings forecasts in four out of the last six quarters, leading shares to underperform accordingly. Nonetheless, we see 2Q guidance at best in line with consensus against a tough comparison and we do not expect a FY15 guidance raise."

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 $71.10 yesterday.

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