Jefferies upgraded Best Buy to Buy from Hold with a price target of $89, up from $69. While 2024 “won’t be a banner year” for the company, investor expectations for negative mid-single-digit percent comps are conservative, the analyst tells investors in a research note. The firm has conviction in a replacement cycle for pandemic buys starting soon and expects a reassurance in Best Buy’s market share.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BBY:
- Adobe says U.S. shoppers spent $5.6B on Thanksgiving Day, Bloomberg reports
- Best Buy price target lowered to $68 from $74 at Truist
- Best Buy price target lowered to $70 from $75 at Evercore ISI
- Best Buy price target lowered to $75 from $80 at Telsey Advisory
- Best Buy price target lowered to $85 from $90 at DA Davidson