Best Buy price target lowered to $90 from $100 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Best Buy (BBY) to $90 from $100 and keeps an Outperform rating on the shares. As a result of the tariffs, the firm anticipates the company’s sales and profitability will be negatively affected as the company is forced to either absorb incremental costs or pass on higher prices to customers, the analyst tells investors. The firm does anticipate, however, a return to slight comparable growth in 2025, followed by accelerated growth and a return to higher earnings in 2026.