Bed Bath & Beyond price target raised to $8 from $7 at Wedbush

Wedbush raised the firm’s price target on Bed Bath & Beyond to $8 from $7 and keeps an Outperform rating on the shares. The firm notes Bed Bath & Beyond reported the first quarter of meaningful year-over-year growth since the restructuring program began, confirming that the core stabilization narrative is now translating into top-line traction. Now the company looks to turbocharge growth and margins by integrating and revitalizing its new home assets into a broader home solutions platform. Wedbush expects at least $40M in annualized cost savings and productivity efficiencies within 12-18 months of full integration.