Best Buy pricing gap with Amazon one of smallest in memory, says Loop Capital

Loop Capital analyst Anthony Chukumba keeps a Buy rating and $90 price target on Best Buy (BBY), saying its quarterly pricing study for the company’s 50 items across five different product categories showed the “slimmest” gap relative to Amazon (AMZN) in memory – higher buy just 0.3% on average vs. 1.7% in September. A lower interest rate environment next year should also benefit Best Buy given the high percentage of the company’s sales that are financed and its appliances business, the analyst tells investors in a research note.