Evercore ISI analyst Greg Melich is adding Best Buy (BBY) to the firm’s “Tactical Underperform” list ahead of the company reporting Q4 results on Tuesday, March 4. Management will guide to 2025 while updating current trends, notes the analyst, who believes guidance for slight earnings growth is “more likely to push the stock towards $80” than breakout towards $100, especially as share pressures persist. The firm, which believes largely vendor funded promotional activity continued into year-end, has an In Line rating and $95 price target on Best Buy shares.
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