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Fly News Breaks for May 24, 2017
BBY
May 24, 2017 | 06:55 EDT
Jefferies analyst Daniel Binder says that Best Buy in Q1, based on field checks and government data, should be able to grow its domestic same-store-sales slightly better than expected and closer to flat to down 1%, versus guidance of down 2.5% to down 1.5%. The analyst believes the company's trends improved through the quarter, especially after the tax refund delays in February. He raised his price target for the shares to $51 from $43 and keeps a Hold rating on Best Buy ahead of the Q1 earnings report.
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