Argus keeps a Hold rating on Best Buy with no price target while raising the firm’s FY25 EPS view by 5c to $6.10 and its FY26 view by 4c to $6.76. The analyst points to the company’s better than expected Q1 results but also warns that Best Buy is facing three major challenges apart from the economy. These include intense competition from online and big-box retailers, product innovation that has consolidated music, video, computing, communications, gaming, and photography, and a slowdown in the smartphone market, Argus notes, adding that it also sees the stock as “fairly valued”.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBY:
- Best Buy call volume above normal and directionally bullish
- Niu Technologies announces large-scale retail expansion at Best Buy
- Best Buy stock recovery driven by rebounding PC demand, says DA Davidson
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Best Buy Stock (NYSE:BBY): Still Attractive at New 52-Week High