JPMorgan Downgrades Bed Bath & Beyond (BBBY) to Underweight

January 26, 2018 4:27 AM EST
Get Alerts BBBY Hot Sheet
Price: $5.97 --0%

Rating Summary:
    4 Buy, 18 Hold, 13 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 6 | New: 12
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JPMorgan downgraded Bed Bath & Beyond (NASDAQ: BBBY) from Neutral to Underweight with a price target of $18.00 (from $21.00).

Analyst Tami Zakaria believes Street expectations for nearly 50% flow through on tax savings is aggressive "given the beefed up competition in the home furnishings space" along with the need for management to invest in price, advertising, and infrastructure. The analyst fails to see a turnaround on the horizon given the company's inability to post positive comps during the most recent holiday season given there was a robust customer backdrop.

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 $23.03 yesterday.

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