Wedbush Starts Bed Bath & Beyond at Outperform With $10 Target on Everything Home Push
Updated
Updated · Bloomberg · Jun 26
Wedbush Starts Bed Bath & Beyond at Outperform With $10 Target on Everything Home Push
2 articles · Updated · Bloomberg · Jun 26
Summary
Wedbush initiated coverage of Bed Bath & Beyond with an outperform rating and a $10 price target, arguing the retailer has upside as its strategy broadens beyond traditional home goods.
Mike Piccolo, a senior vice president at the firm, tied that call to Bed Bath & Beyond's “Everything Home” transformation, which aims to combine home services, online retail, financial services and residential brokerage.
The bullish thesis centers on the company becoming a one-stop shop for home improvement and financing services alongside core categories such as bedding and kitchenware.