Goldman Sachs analyst Kate McShane upgraded Best Buy to Neutral from Sell with a price target of $83, up from $59, implying 2% upside. The analyst sees the ability for Best Buy to improve margins in fiscal 2024 and 2025 as sales improve and as the company laps the "Total Tech" investment. In addition, Best Buy can maintain market share given the company’s expanding omnichannel business and healthy inventory position, McShane tells investors in a research note.
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