TMCnet News
Downgrade Alert for Bed Bath & Beyond (BBBY)May 20, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Bed Bath & Beyond (NASDAQ:BBBY) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $69.11 on volume of 1.4 million shares, below average daily volume of 2.5 million. Bed Bath & Beyond Inc. operates a nationwide chain of retail stores. The Company, through its retail stores, sells a wide assortment of merchandise principally including domestics merchandise and home furnishings as well as food, giftware, health and beauty care items and infant and toddler merchandise. There is potential upside of 8.0% for shares of Bed Bath & Beyond based on a current price of $67.96 and an average consensus analyst price target of $73.41. The stock should discover initial support at its 50-day moving average (MA) of $65.72 and subsequent support at its 200-day MA of $61.68. In the past 52 weeks, shares of Bed Bath & Beyond have traded between a low of $54.33 and a high of $75.84 and are now at $67.96, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.3%. SmarTrend recommended that subscribers consider buying shares of Bed Bath & Beyond on March 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.44. Since that recommendation, shares of Bed Bath & Beyond have risen 14.4%. We continue to monitor BBBY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |