Bed Bath & Beyond (BBBY) PT Raised to $33 at Baird

July 1, 2021 7:33 AM EDT
Get Alerts BBBY Hot Sheet
Price: $4.71 -5.23%

Rating Summary:
    6 Buy, 20 Hold, 9 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 0 | New: 0
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Baird analyst Peter S. Benedict raised the price target on Bed Bath & Beyond (NASDAQ: BBBY) to $33.00 while maintaining a Neutral rating following earnings.

The analyst commented, "BBBY delivered 1Q revenue/gross profit upside (~4%/~7% ahead of our model), but higher expenses limited the flow through (adj-EBITDA was in-line). The revenue beat was encouraging, but BBBY's +LSD% comps vs. 1Q19 still lag competitors (i.e., TGT's home business was ~40% above 1Q19). Looking forward, FY21 guidance was raised, and 2Q-4Q comps are now seen +LSD% (vs. prior flattish). With back-to-college an important customer reengagement opportunity, we remain watchful for signs of incremental traction in the months ahead. Raising estimates and price target (to $33). Maintain Neutral rating."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Robert W Baird, Earnings