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Fly News Breaks for May 25, 2016
BBY
May 25, 2016 | 06:41 EDT
Raymond James analyst Dan Wewer said Best Buy is delivering on its plan of improving gross margins, cutting expenses, and growing free cash flow, which will accelerate the pace of buybacks and cash dividends. Wewer believes Best Buy is positioned to leverage market share growth into "impressive" same-store-sales and profits once the product cycle turns. The analyst said Best Buy's valuation are among the most compelling in all of retail and reiterates his Strong Buy rating and $38 price target on shares.
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