Best Buy Co.’s “Buy” Rating Reaffirmed at Deutsche Bank (BBY)
Best Buy Co. (NYSE:BBY)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank in a note issued to investors on Friday, American Banking & Market News reports. They currently have a $36.00 target price on the stock, down from their previous target price of $50.00. Deutsche Bank’s price objective points to a potential upside of 47.36% from the stock’s previous close.
A number of other firms have also recently commented on BBY. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Friday. They now have a $31.00 price target on the stock, down previously from $48.00. Separately, analysts at Bank of America Corp. upgraded shares of Best Buy Co. to a “buy” rating in a research note to investors on Thursday. Finally, analysts at KeyCorp cut their EPS estimates on shares of Best Buy Co. in a research note on Thursday. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $41.74.
Best Buy Co. (NYSE:BBY) traded down 8.95% during mid-day trading on Friday, hitting $24.43. The stock had a trading volume of 60,431,056 shares. Best Buy Co. has a 1-year low of $13.83 and a 1-year high of $44.66. The stock has a 50-day moving average of $39.29 and a 200-day moving average of $37.09. The company’s market cap is $8.453 billion. Best Buy Co. also was the recipient of some unusual options trading on Tuesday. Traders purchased 46,371 call options on the stock. This represents an increase of approximately 184% compared to the average volume of 16,326 call options.
Best Buy Co. (NYSE:BBY) last announced its earnings results on Tuesday, November 19th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Best Buy Co. will post $2.27 EPS for the current fiscal year.
Best Buy Co, Inc is a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services.
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