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Fly News Breaks for March 2, 2017
HGGG, HGG, BBY
Mar 2, 2017 | 15:44 EDT
Loop Capital analyst Anthony Chukumba noted the announcement from hhgregg (HGGG) that it plans to close 88 stores and exit several markets. Following a location-by-location analysis, he found that over 90% of hhgregg's 220 stores have a Best Buy (BBY) within five miles or less and he expects Best Buy to be a "major beneficiary" of the closings. Chukumba reiterates his Buy rating and $58 price target on Best Buy shares.
News For BBY;HGG;HGGG From the Last 2 Days
