Best Buy price target raised to $87 from $68 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Best Buy to $87 from $68 and keeps a Hold rating on the shares after its Q4 earnings beat. The company is controlling what they can, but life cycles need to reassert to drive upside in the stock price, the analyst tells investors in a research note. Best Buy is tightly managing its labor model, but insufficient labor levels can then work against Best Buy from a share perspective, the firm added.