Bed Bath & Beyond (BBBY) PT Lowered to $34 at Jefferies

Jefferies lowered its price target on Bed Bath & Beyond (NASDAQ: BBBY) to $34.00 (from $41.00) while maintaining a Hold rating.

Analyst Dan Binder speculates that soft sales and increasing investment would put the company guidance at risk. He also comments on product pricing "Like many retailers, we believe BBBY needs to solve the product pricing side of the equation and that may mean further margin decline ahead, so we are reducing estimates more meaningfully for this year and next."

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