BofA analyst Robert Ohmes lowered the firm’s price target on Best Buy (BBY) to $63 from $75 and keeps an Underperform rating on the shares. While Best Buy only directly imports 2%-3% of its assortment, the firm thinks vendors are likely to pass along some level of tariff costs to retailers and it lowered its FY27 EPS forecast and its multiple on a weaker near-term outlook and long-term market share pressure from omnichannel competition.
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Read More on BBY:
- Best Buy price target lowered to $67 from $75 at Wells Fargo
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- Best Buy price target lowered to $74 from $89 at Barclays
- Best Buy’s Strong Q1 2026 Performance and Positive Long-term Outlook Justify Buy Rating
- Best Buy Reports Q1 FY26 Earnings with Strategic Focus
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