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Shares of Bed Bath & Beyond Inc. Sank 3.9% in premarket trade Friday, after J.P. Morgan turned bearish on the home furnishings and consumer products retailer, citing concerns over the growth and margin outlook relative to peers. Analyst Christopher Horvers cut his rating to underweight from neutral, and his stock price target to $18, which is 22% below Thursday's closing price, from $21.

He pointed out that Bed Bath & Beyond's same-store sales declined 0. Game Theory Matlab Code Programs more. 3% last quarter, although November was arguably the best month of the year for retailers, and his research suggests trends have slowed for the current quarter despite upbeat outlooks from its peers. As a results, Horvers said further margin erosion 'appears inevitable' as management doubles down on its price match guarantee, steps up coupon offers and accelerates advertising spend. Through Thursday, the stock had run up 20% since it closed at a 9-year low on Nov. 7, while the SPDR S&P Retail ETF has rallied 24% and the S&P 500 has climbed 9.6%.