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Fly News Breaks for August 24, 2016
BBY
Aug 24, 2016 | 07:01 EDT
Raymond James analyst Dan Wewer said Best Buy's valuation metrics are among the most compelling in all of retail and continues to view the company as the best value idea in hardline retail. The analyst raised FY17 earnings forecast to $3.08 from $2.93 due to the Q2 beat, international profit outlook, and increased share buyback assumptions. Wewer reiterates his Strong Buy on Best Buy and increased his price target to $45 from $38.
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