Bed Bath & Beyond Chapter 11 positive for Target, Walmart, says Piper Sandler

Piper Sandler analyst Edward Yruma tells investors in a research note that Bed Bath & Beyond’s (BBBY) Chapter 11 filing is positive for Target (TGT) and Walmart (WMT). Target is particularly well positioned to gain share in home furnishings and baby/kids given its focus on these categories, the firm says, adding that similar to the Toys "R" Us bankruptcy in 2017, share gains will largely go to Target, Walmart, and Amazon (AMZN).