UPDATE: Odeon Capital Upgrades Bed Bath & Beyond (BBBY) to Hold

September 30, 2022 8:54 AM EDT
Get Alerts BBBY Hot Sheet
Price: $3.60 +1.69%

Rating Summary:
    4 Buy, 18 Hold, 13 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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(Updated - September 30, 2022 2:48 PM EDT)

Odeon Capital analyst Alexander Arnold upgraded Bed Bath & Beyond (NASDAQ: BBBY) from Sell to Hold with a price target of $7.50.

The analyst comments "BBBY is not out of the woods just yet, but things appear to be moving in the right direction, and we have increased confidence that rescue financing secured in September provides an adequate liquidity runway for the business to get back on the rails, but the next couple of quarters will really tell the story. We are raising our equity rating from SELL to HOLD and maintaining our $7.50 PT. As we wait for confirmation of stabilization and progress, we see the deeply discounted debt as the more compelling investment opportunity."

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 $6.19 yesterday.

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