Best Buy price target raised to $95 from $90 at DA Davidson

DA Davidson raised the firm’s price target on Best Buy to $95 from $90 and keeps a Buy rating on the shares. Following the company’s Q1 report, the firm is maintaining its sales outlook and increasing 2024 and 2025 EPS estimates to $6.12 and $6.76 from $5.98 and $6.62, respectively. Beyond the short term, the firm sees some signs of industry trends turning, which at “a relatively unchallenging valuation” should be a catalyst for shares, the analyst tells investors.