Bed Bath and Beyond (BBBY) NewsBite - Underperform Rating Sinks BBBY

Friday, September 05, 2008 10:44 AM EDT

Bed Bath and Beyond (NasdaqNM: BBBY) opened at $31.01. So far today, the stock has hit a low of $30.86 and a high of $31.43. BBBY is now trading at $31.02, down $0.64 (-2.02%). Over the last 52 weeks the stock has ranged from a low of $24.49 to a high of $36.30. Shares of BBBY are declining today after a Friedman Billings resumed coverage on the stock with an "Underperform" rating and a $32.50 price target. Technical indicators for the stock are neutral and S&P gives BBBY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BBBY the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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