Don't be surprised if beaten-down retail stock Bed Bath & Beyond falls even more from here, according to KeyBanc Capital Markets.
"We do not see Bed Bath & Beyond as a strategic fit for any of the home furnishings retailers in our coverage group, but see interest from retailers in the company's Bed Bath & Beyond store leases, which are ~30,000 sq.
ft. and generally in good locations," wrote analyst Cristina Fernández in a Friday note.
"Over the past few months, management has stemmed the bleeding, improved liquidity, and improved relations with these two stakeholders," wrote analyst Christopher Horvers.
Bed Bath & Beyond shares have experienced a roller-coaster ride in recent years, as smaller traders on Reddit piled into the heavily shorted retailer.