Best Buy price target raised to $100 from $93 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Best Buy (BBY) to $100 from $93 and keeps a Buy rating on the shares. The firm’s quarterly pricing study comparing Best Buy to Amazon (AMZN) saw its price gap narrowed to 0.5% from 0.9%, the analyst tells investors in a research note. Loop is also encouraged by its latest PC channel checks, which are consistent with Best Buy’s recent PC sales trends and upbeat commentary, the firm added.