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Bed Bath & Beyond (BBBY) Stock Initiated at Jefferies

NEW YORK (TheStreet) -- Bed Bath & Beyond (BBBY - Get Report) stock is increasing 0.19% to $59.05 in mid-morning trading after the company was initiated with a "hold" rating and a $63 price target at Jefferies.

The furniture and furnishings retail segment is expected to continue to grow 4% to 5% annually as it evolves to ecommerce and investments in omni-channel retail increase, Jefferies said in an analyst note.

The customer centric retailer's sales, however, have been soft and competition grows.

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Earnings per share growth has been muted because of low single-digit same store sales increases, margin pressure due to ecommerce, higher coupon redemption rates and more investments on infrastructure and people, analysts added.

Furthermore, Bed Bath & Beyond has long-term potential with its leading market position, brand recognition, strong management and expansion into online sales.

Separately, TheStreet...