Credit Suisse analyst Karen Short initiated coverage of Best Buy with a Neutral rating and $90 price target. While she sees reasons to be "constructive," her near-term concerns include the fact that consumer electronics "appears to be one of the challenging retail categories so far this year" and that Best Buy is on track to end 2022 with gross margins an estimated 190 basis points below 2019 levels.
Published first on TheFly
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