Best Buy Co. Given New $40.00 Price Target at Credit Suisse (BBY)
Research analysts at Credit Suisse lowered their price objective on shares of Best Buy Co. (NYSE:BBY) to $40.00 in a report released on Tuesday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective suggests a potential upside of 63.73% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Merrill Lynch upgraded shares of Best Buy Co. to a “buy” rating in a research note to investors on Friday. Separately, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Friday. They now have a $34.00 price target on the stock, down previously from $49.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Best Buy Co. in a research note to investors on Friday. They now have a $38.00 price target on the stock, down previously from $52.00. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.32.
Best Buy Co. (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 19th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.03 earnings per share. Best Buy Co.’s revenue was down .2% compared to the same quarter last 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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