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Read Why This Analyst Cut Bed Bath And Beyond's Price Target By 60%

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·1 min read
In this article:
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  • Telsey Advisory Group analyst Cristina Fernández lowered the price target on Bed Bath & Beyond Inc (NASDAQ: BBBY) to $6 from $15, implying a 10.45% downside. The analyst maintained an Underperform rating on the shares.

  • The analyst is taking a subdued view due to more negative commentary from mass retailers like Big Lots, Inc. (NYSE: BIG), Target Corp (NYSE: TGT), and Walmart Inc (NYSE: WMT) about consumer spending on the home category and the impact of lapping government stimulus checks in 2021.

  • Fernández thinks the challenging dynamic will continue through at least the second quarter of 2022 as retailers take more aggressive steps to clear through inventory.

  • She also thinks BBBY's legacy supply chain infrastructure limits the ability to move inventory around quickly and efficiently and offset the financial impact during disruption.

  • Price Action: BBBY shares are trading lower by 3.73% at $6.45 in premarket on the last check Wednesday.

Latest Ratings for BBBY

Date

Firm

Action

From

To

Mar 2022

Telsey Advisory Group

Maintains

Market Perform

Jan 2022

Goldman Sachs

Maintains

Sell

Jan 2022

Telsey Advisory Group

Maintains

Market Perform

View More Analyst Ratings for BBBY

View the Latest Analyst Ratings

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