Gilford Securities Has Buy Rating On Bed Bath & Beyond

Gilford Securities has a Buy rating on shares of Bed Bath & Beyond BBBY, and thinks shares could hit $60 eventually. In a note to clients, Gilford Securities writes, "This retailing All-Star continues to knock the ball out of the park. We anticipate BBBY could reach $60 in 2011, and expect 10%-15% appreciation annually thereafter, assuming a favorable economy." Gilford goes on to say, "We envision a bearish chorus forming, saying the operating margin is at a record level and will likely top out soon. We say, profits will likely rise strongly as long as same-store sales exceed conservative expectations, and EPS will be boosted by share repurchases, which can go on for a long time, given BBBY's powerful balance sheet and cash flow." At last check, shares of BBBY were off 10 cents to $56.49.