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Morgan Stanley assumed coverage on shares of Best Buy Co (NYSE:BBY) in a research note issued on Tuesday. The firm set an “overweight” rating and a $36.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 26.01% from the stock’s previous close.

Best Buy Co (NYSE:BBY) traded up 2.56% during mid-day trading on Tuesday, hitting $29.30. 1,204,640 shares of the company’s stock traded hands. Best Buy Co has a 52 week low of $22.15 and a 52 week high of $44.66. The stock’s 50-day moving average is $27.26 and its 200-day moving average is $28.84. The company has a market cap of $10.220 billion and a price-to-earnings ratio of 9.33.

Best Buy Co (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.13. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect that Best Buy Co will post $2.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Tuesday, September 9th. This is an increase from Best Buy Co’s previous quarterly dividend of $0.17.

Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Best Buy Co from $34.00 to $35.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Best Buy Co from $33.00 to $34.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Best Buy Co in a research note on Friday, May 23rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Best Buy Co presently has a consensus rating of “Buy” and a consensus price target of $38.67.

Best Buy Co, Inc is a multinational, multichannel retailer of technology products, including tablets and computers, televisions, mobile phones, large and small appliances, entertainment products, digital imaging and related accessories.

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