CFRA upgrades Bed Bath & Beyond to buy, says one-time meme stock can rally nearly 40%

CNBC2021-06-28

Meme stock enthusiasts have recently rallied around Bed Bath & Beyond, and CFRA Research believes the retailer’s turnaround plan makes it a name that even more traditional investors should buy as well...

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Comments

Meshaarias72
2021-06-28
Meshaarias72
Like n comment pls
- eeez:
  , ?
Waachama
2021-06-28
Waachama
Like
cassiebb
2021-06-28
cassiebb
Ok
- Meshaarias72:
  Y
darrius
2021-06-28
darrius
Greatt
valueTrader
2021-06-28
valueTrader
Wow, meme stocks to the moon
- Yapyap:
  Leave a like
milliongal
2021-06-28
milliongal
Ok

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Despite the big year-to-date gains, the retail trading momentum has faded a bit lately with the stock down 35% from its peak June 2 peak.\nHowever, CFRA believes the stock has more room to run as the company rolls out new products and improves operations. The company said in June it plans to launch six new brands in the next several months, in time for the company’s busy back-to-school shopping season.\n“What we are seeing is a period of transition where we are exiting older products ... and getting ready to put in those new items,” Bed Bath & Beyond CEO Mark Tritton said June 2 on CNBC’s “Squawk on the Street.”\nCFRA upgraded the stock to a buy rating from hold. The firm maintained its $40 price target on the stock, implying 38.3% upside.\n“We think BBBY can execute major brand introductions that will boost the digital experience, ration stores by closing low demographic locations, remodel most stores, and bring on new stores all in the new store layout with a website that showcases eight recently introduced brand product categories,” Leon said.\nHowever, Leon noted that customers may not accept the company’s new plan, posing a risk to its growth trajectory.\nShares of Bed Bath & Beyond closed 4.4% lower on Friday at 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meme stocks to the moon","listText":"Wow, meme stocks to the moon","text":"Wow, meme stocks to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/150965565","repostId":1195560202,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5053304,"gmtCreate":1624883834299,"gmtModify":1663230199841,"authorId":3555497414386855,"author":{"id":3555497414386855,"idStr":"3555497414386855","authorId":3555497414386855,"name":"Yapyap","avatar":"https://static.tigerbbs.com/ae8e23fdb414a4391a359fa1516a4b20","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":150965565,"type":1,"supId":0,"prevId":0,"content":"Leave a like","text":"Leave a like","html":"Leave a 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