Why Bed Bath & Beyond Stock Popped Again Today

Rich Smith, The Motley Fool
·2 min read
Why Bed Bath & Beyond Stock Popped Again Today

Bad news for Bed Bath & Beyond (NASDAQ: BBBY) shareholders: This morning, two separate Wall Street banks downgraded the stock, with Raymond James cutting its rating from strong buy to merely market perform (i.e., neutral), and Swiss banker UBS cutting the stock from neutral to sell. Bed Bath stock is up a stellar 13.8% as of 2 p.m. EST. Hearing an investment bank like Raymond James declaring Bed Bath & Beyond's valuation "stretched" (reports TheFly.com), or hearing UBS warn of the company's "deep" challenges that "will take time to fix" in the midst of a recession that has people spending less on home goods and furnishings, ordinarily sends investors running for the hills.