BofA/Merrill analyst Denise Chai upgraded Best Buy to Buy from Neutral and increased its price target to $58 from $47 based on stronger than expected product cycles in TVs, phones, and time smart home technology, strong online growth, increased focus on high margin services like subscription warranties and in-home services, and new cost savings opportunities. The analyst is also turning more positive on international growth and expects the Apple and Samsung super cycle to drive 2H comps and shares. Chai raised her 2017/18/19 earnings estimates to $3.79/4.14/4.61 from $3.69/4.05/4.45.