HSBC Cuts Best Buy (NYSE:BBY) Price Target to $85.00

Best Buy (NYSE:BBY) had its price objective decreased by HSBC from $96.00 to $85.00 in a research report report published on Thursday,MarketScreener reports.

A number of other equities research analysts also recently issued reports on BBY. Citigroup reduced their price target on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Daiwa Securities Group lifted their target price on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Wedbush dropped their price target on Best Buy from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. BNP Paribas Exane reduced their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Finally, Barclays reduced their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $80.05.

Best Buy Stock Down 1.5%

Shares of NYSE:BBY opened at $61.93 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The business’s 50 day simple moving average is $67.09 and its two-hundred day simple moving average is $73.01. Best Buy has a 52-week low of $54.99 and a 52-week high of $90.86. The firm has a market cap of $12.98 billion, a P/E ratio of 20.51, a PEG ratio of 1.48 and a beta of 1.44.

Institutional Investors Weigh In On Best Buy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 138 shares during the period. Torren Management LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in Best Buy during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy during the 3rd quarter worth about $25,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Best Buy in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy News Summary

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Telsey Advisory Group reiterated an Outperform rating on BBY, signaling at least one major shop has confidence in Best Buy’s longer-term playbook. Telsey Reiterates Outperform
• Positive Sentiment: GoPro and ASUS launched a co-branded ProArt laptop that will be sold exclusively at Best Buy in the U.S., providing a small but tangible product-differentiation and traffic driver in the near term. GoPro/ASUS ProArt at Best Buy
• Neutral Sentiment: Macro/AI uncertainty is a market-wide theme — commentary notes AI could both help and hurt sectors; this keeps discretionary retailers like Best Buy exposed to sentiment swings around tech spending. AI disruption looms over markets
• Neutral Sentiment: Analyst-model coverage (Zacks) highlights the key metrics investors will watch in BBY’s Q4 — same-store sales, AURs, services/Total Tech attach and margin drivers — useful context but no consensus surprise implied yet. Zacks Analyst Projections for BBY Q4
• Neutral Sentiment: Consensus analyst recommendation sits at “Hold,” reflecting mixed views across the sell-side and limited near-term conviction. Consensus “Hold” for Best Buy
• Negative Sentiment: HSBC lowered its price target on BBY from $96 to $85, signaling reduced optimism on Best Buy’s recovery momentum and contributing to downward pressure on the stock. HSBC cuts BBY price target
• Negative Sentiment: Wedbush trimmed its target to $70 (from $80) while staying Neutral, reflecting cautious near-term expectations and signaling limited upside in the near term. Wedbush cautious on Best Buy
• Negative Sentiment: UBS expects a tough fiscal Q4 with sales down ~2% amid intensifying competition — this guidance/expectation directly pressures near-term revenue and margins, a likely catalyst for today’s selloff. UBS sees tough Q4 for Best Buy

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.