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Wells Fargo Sticks to Their Hold Rating for Best Buy Co (BBY)

Wells Fargo analyst Zachary Fadem maintained a Hold rating on Best Buy Co (BBYResearch Report) today and set a price target of $70.00. The company’s shares closed last Wednesday at $74.49, close to its 52-week low of $64.29.

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 17.3% and a 63.2% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.

Currently, the analyst consensus on Best Buy Co is a Hold with an average price target of $86.93, which is a 19.7% upside from current levels. In a report issued on July 20, Morgan Stanley also maintained a Hold rating on the stock with a $90.00 price target.

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Best Buy Co’s market cap is currently $16.21B and has a P/E ratio of 7.98.

Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BBY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1966, Minnesota-based Best Buy Co., Inc. is a consumer electronics company, which provides consumer technology products and services in the US, Canada and Mexico. It operates in two business segments: Domestic and International.

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