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TRADE ALERT- Credit Suisse Raises Bed Bath & Beyond Price Target (BBBY)

Zemanta Related Posts ThumbnailAccording to Credit Suisse, Bed Bath & Beyond (NASDAQ: BBBY)’s website relaunch is a significant improvement and positions it as a price leader in the space. As a result, the firm raised the company’s price target from $75 to $80.

The $15 billion company has seen gains of 32 percent in 2013 and trades at 16 times trailing earnings. Technically, the stock has been in a solid uptrend since March with healthy pullbacks to its 50 day moving average multiple times before making a move higher. Currently, the stock is, again, testing its 50 day. If it holds, looks for the uptrend to continue. After a move to $78.25, the stock has sold off to $74.41. This, along with the price target raise, gives the stock plenty of upside potential.

[stock-tools exchange="NASDAQ" symbol="BBBY" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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