Best Buy Co Rating Reiterated by Piper Jaffray (BBY)
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. raised their price target on shares of Best Buy Co from $31.00 to $36.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley reiterated a “buy” rating on shares of Best Buy Co in a research note on Wednesday, June 25th. Finally, analysts at Morgan Stanley initiated coverage on shares of Best Buy Co in a research note on Tuesday, June 24th. They set an “overweight” rating and a $36.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Best Buy Co presently has a consensus rating of “Buy” and an average target price of $40.92.
Best Buy Co (NYSE:BBY) opened at 31.13 on Friday. Best Buy Co has a 52 week low of $22.15 and a 52 week high of $44.66. The stock has a 50-day moving average of $30.31 and a 200-day moving average of $27.40. The company has a market cap of $10.858 billion and a price-to-earnings ratio of 10.24. Best Buy Co also saw unusually large options trading activity on Tuesday. Investors bought 15,748 put options on the stock. This represents an increase of approximately 511% compared to the average volume of 2,577 put options.
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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