Best Buy price target raised to $90 from $87 at DA Davidson

DA Davidson raised the firm’s price target on Best Buy to $90 from $87 and keeps a Buy rating on the shares. Much of the positive stock reaction after the company’s Q2 results is likely due to low expectations heading into the print, though Best Buy’s earnings call also highlighted a number of incremental green shoots that continue to suggest that the worst is behind for the company, both with respect to financial trends and as it relates to stock performance, the analyst tells investors in a research note.