Robert Baird on Home Retailers: Bed Bath & Beyond, Williams-Sonoma
By Market News Video Staff, Friday, November 12, 2:16 PM ET
Robert Baird initiated coverage today on Bed Bath & Beyond (NASDAQ:BBBY) and Williams-Sonoma (NYSE:WSM). The firm rate Bed Bath & Beyond neutral, with a $48 price target, calling it a best-of-breed retailer with margins that have likely hit their highs.
Robert Baird rated Williams-Sonoma outperform, with a $42 price target. It said the company has room to expand its margins.
Bed Bath & Beyond is trading down 2.3%, while Williams-Sonoma trades down 2.3% as well.
Bed Bath & Beyond and Williams-Sonoma are both in the SPDR S&P Homebuilders ETF (AMEX:XHB), with Williams-Sonoma making up 4.45% of the fund as the second-largest holding, and Bed Beth at 3.98% of the total. Other top stocks in the fund include Tempur Pedic (NYSE:TPX) and Pier 1 Imports (NYSE:PIR).
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