Evercore ISI raised the firm’s price target on Best Buy to $90 from $80 and keeps an In Line rating on the shares. Improved May sales and the mention of the start of a new AI led laptop cycle “popped the stock” back to where it was in March, the analyst tells investors. Following the earnings report, the firm’s 2024 EPS view is bumped to $6.10 and 2025 is unchanged at $6.40, the analyst added.
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