NEW YORK (MarketWatch) -- Bed Bath & Beyond Inc. was downgraded to a sell rating from neutral by Goldman Sachs
on Monday morning. The downgrade was attributed to a loss in market share, declining margins and the firm's online strategy, Matthew Fassler wrote in a note. The 12-month target price was reduced to $56 from $66 on "lower multiple on the assumption that relative valuation contracts during a period of market share loss and margin pressure," he said. Shares were down 2.7% to $58.15 in morning trade. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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