Best Buy price target lowered to $80 from $88 at Barclays

Barclays analyst Seth Sigman lowered the firm’s price target on Best Buy to $80 from $88 and keeps an Equal Weight rating on the shares post the Q4 results. The outlook for market share and gross margin seems better, but the missing components for the stock are industry demand and product drivers, which may remain weak, the analyst tells investors in a research note. As such, the firm sees Best Buy as fairly valued.