Alpha Diallo
All posts from Alpha Diallo
Alpha Diallo in Alpha Diallo,

Bed Bath & Beyond downgraded on Retail Outlook

 (Image source:

Bed Bath & Beyond Inc. (NASDAQ:BBBY) was downgraded by the investment bank Canaccord Genuity from buy to hold.  However, the price target was kept at the same level, $84.00. Canaccord cited the difficulty in the retail market and the slowdown in consumer spending on discretionary items as reasons for the downgrade. Consumers are focused more on buying long-term durable goods according to Canaccord; Bed Bath & Beyond mostly sales non-durable goods. On the bright spot, Canaccord sees the online business part doing well over the next five years with growth about 14 percent. The downgrade has not affected the stock too much in early trading.