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Fly News Breaks for May 24, 2016
BBY
May 24, 2016 | 08:06 EDT
As previously reported, Citi downgraded Best Buy to Neutral from Buy following this morning's earnings report from the company. Analyst Kate McShane said the company's management team has had great success over the past three years, but sees limited upside from here given the need for continued investments in omnichannel and the weakness in areas including phones, tablets, PCs and video games. McShane cut her price target on Best Buy to $32 from $38.
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