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Bed Bath & Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report rose 1% to $12.41 Tuesday after a KeyBanc analyst upgraded shares of the home goods retailer to overweight from sector weight with an $18 stock price.

Analyst Bradley Thomas said in a note to investors that his proprietary data suggests the Union, New Jersey-based company's same-store sales trends have been improving.

In addition, Thomas said he believes that new CEO Mark Tritton and his merchandising background should be a "strong fit" for the company's needs.

Tritton, a three-decade retail veteran, has been credited with launching Target's private-label development, which included more than 30 new brands in just 2 1/2 years and helped the group grow comparable sales for eight consecutive quarters. Tritton will succeed interim CEO Mary Winston on Nov. 4.

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Thomas also said that asset sales or divestitures "could happen sooner rather than later" and could be material.

The stock's valuation points to a "sizable upside opportunity" with "relatively bearish sentiment baked in," Thomas said.

Earlier this month, the home-furnishings retailer posted weaker-than-forecast same-store sales and trimmed its full-year profit guidance, amid its ongoing turnaround program.