Citigroup Raises BBBY FY11/12/13 Estimates

Bed Bath & Beyond Inc. BBBY reported a solid beat and raise, and Citigroup said that it believes that investors will view the large share repurchase favorably, “which should provide a valuation lift in the NT.” “We are raising our FY11 est to $2.94 from $2.85, our FY12 estimate to $3.31 from $3.25 and our FY13 EPS estimates to $3.84 from $3.67,” Citigroup writes. Bed Bath & Beyond closed Wednesday at $47.67.