Retail ratings a mixed bag
September 26, 2001,
New York — Wall Streeters peered into their crystal balls today and came up with varying outlooks on the future. Today's ratings updates:
Bed Bath & Beyond: Goldman Sachs today raised its rating on Bed Bath & Beyond Inc., moving it from "market outperform" to its U.S. "recommended" list, noting the move "reflects our confidence in long-term growth and short-term performance despite a challenging environment." Also today, however, UBS Warbug lowered its 12-month price target on BBB from $37 per share to $32. It did not comment on the change.
Wal-Mart: Morgan's Eberts today also raised her rating to "buy" from "long-term buy," saying that although the valuation looks full, she believes it will be sustainable in "the next several quarters" as Wal-Mart's fundamentals "far outpace" its competitors.