ISI Reiterates Buy on Bed Bath & Beyond, Raises PT to $61

ISI reiterated its Buy rating on Bed Bath & Beyond BBBY. At the same time, ISI raised its price target on the company's stock from $60 to $61. In the report, ISI states, "Bed Bath & Beyond remains one of the few large cap growth names in hardlines, but at 13.2x our 2012e, garners no premium for the growth. We are increasing our base case from $60 to $61 and increasing our 2011e from $3.50 to $3.60. With the Linens ‘N Things liquidation and department stores and discounters reluctant to dedicate incremental square footage to home, we believe BBBY has very strong long-term growth potential." In today's trading, BBBY added 4.24% to its value and stands around $56.35.