Bed Bath & Beyond Inc (NASDAQ:BBBY) shares were initially trading lower Wednesday after several analysts cut price targets on the stock, but have since reversed.
UBS analyst Michael Lasser maintained Bed Bath & Beyond with a Sell rating and lowered the price target from $12 to $5.
Wedbush analyst Seth Basham maintained Bed Bath & Beyond with a Neutral rating and lowered the price target from $14 to $7.
Telsey Advisory Group analyst Joseph Feldman maintained Bed Bath & Beyond with an Underperform rating and lowered the price target from $15 to $6, citing consumer spending concerns following negative commentary from some large retailers.
Related Link: Read Why This Analyst Cut Bed Bath And Beyond’s Price Target By 60%
Bed Bath & Beyond is set to announce is fiscal first-quarter financial results before the market opens on June 29, according to data from Benzinga Pro.
BBBY Price Action: Bed Bath & Beyond has a 52-week high of $39.30 and a 52-week low of $5.94.
The stock was up 2.16% at $6.85 at time of publication.
Photo: ajay_suresh from Flickr.