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Fly News Breaks for November 16, 2015
BBY
Nov 16, 2015 | 06:32 EDT
RBC Capital downgraded Best Buy to Sector Perform and lowered its price target to $36 from $42 on shares. Analyst Scot Ciccarelli has become increasingly concerned about deteriorating sales trends in the consumer electronics category. Ciccarelli said government sales data for CE/Appliances continues to weaken and vendor commentary has also become more cautious. The analyst views risk/reward as unattractive given this data deterioration, the selling pressure on retailers that miss projections, Best Buy's own volatility around the holidays, and sustained comp improvement needed for the stock to re-rate higher.
News For BBY From the Last 2 Days
BBY
Mar 18, 2024 | 15:06 EDT
Welcome to "Fly Insider," The Fly's weekly recap of notable insider stock transactions. NOTABLE INSIDER PURCHASES:... To see the rest of the story go to thefly.com. See Story Here