UPDATE: Odeon Capital Upgrades Bed Bath & Beyond (BBBY) to Hold
- S&P 500 ends slightly lower after jobs report
- U.S. job juggernaut rolled on in November; nonfarm payrolls up 263,000
- We are selling risk rallies - Bank of America's Hartnett
- United Airlines (UAL) nearing deal to order dozens of Boeing 787 Dreamliners - WSJ
- Meta Platforms says metaverse could contribute over $3 trillion to global GDP by 2031
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."
Shares of Bed Bath & Beyond closed at $6.19 yesterday.
You May Also Be Interested In
- Citi Upgrades Rigel Pharmaceuticals (RIGL) to Buy
- RHI Magnesita (RHIM:LN) (RHHMY) PT Raised to GBP26.90 at Jefferies
- Infosys Ltd. (INFO:IN) (INFY) PT Raised to INR1,900 at Nomura/Instinet
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!