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Fly News Breaks for May 21, 2018
BBY
May 21, 2018 | 08:29 EDT
To reflect channel checks and "strong" industry data, Jefferies analyst Daniel Binder raised his Q1 comp sales estimate for Best Buy to 6.0% from 3.5%. "Strong" underlying trends against easy comparisons allowed Best Buy to overcome the headwinds of lapping tough gaming comps, Binder tells investors in a research note. Further, he believes that government data suggest his estimates could prove conservative. The analyst expects a good Q1 from Best Buy and upped his price target for the shares to $79 from $74. Binder keeps a Hold rating on the stock.
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