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Bed Bath & Beyond’s Stock Falls ~6% on Barclays’s Downgrade

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Barclays’s downgrade

Today, Barclays downgraded Bed Bath & Beyond (BBBY) from “equal weight” to “underweight” and also lowered its 12-month price target from $15 to $13. The new price target represents a potential fall of 22.1% from the March 1 closing price of $16.69. Barclays stated that it was disappointed by the results of its restructuring efforts, reported CNBC.

The Barclays downgrade led to a fall in the company’s stock price. As of 2:22 PM ET, BBBY was trading at $15.67, a fall of 6.1% from its March 1 closing price.

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Other analysts’ recommendations

Of the 21 analysts who follow Bed Bath & Beyond (BBBY), 52.4% have given the stock a “hold” rating while 47.6% have a “sell” recommendation. On average, analysts have given the stock a 12-month price target of $12.87, which represents a fall of 22.9% from its March 1 closing price of $16.69.

Peer comparisons

Of the 33 analysts who follow Home Depot (HD), 66.7% have given the stock a “buy” rating while the remaining 33.3% have recommended a “hold.” Analysts’ average 12-month price target of $203.11 implies a potential upside of 9.7% from the closing price of $185.17 on March 1.

Among the 31 analysts who follow Lowe’s (LOW) stock, 67.7% recommend a “buy” while 32.3% recommended a “hold.” Analysts’ average 12-month price target of $116.82 implies a potential return of 12.4% from its price of $103.96.

Among the 23 analysts who follow Williams-Sonoma (WSM), 4.3% recommend a “buy,” 73.9% recommend a “hold,” and 21.7% recommend a “sell.” Analysts’ average 12-month price target of $54.69 implies a fall of 7.1% from its stock price of $58.85.

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