BNED stock has shown signs of a turnaround, with Q2 FY2025 adjusted EBITDA rising to $66 million, driven by cost-saving measures and an 18% growth in First Day program revenues. Despite a slight revenue decline, the stock is trading around $11.69, reflecting optimism about its strategic initiatives and improved financials. Bulls see potential upside to $33 in the next 12-18 months, supported by operational improvements and reduced interest expenses.