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Fly News Breaks for May 24, 2018
BBY
May 24, 2018 | 10:27 EDT
Best Buy "continued to hit on all cylinders" in Q1, providing further evidence that it is well equipped to compete in the "rapidly evolving consumer electronics retailing marketplace," Loop Capital analyst Anthony Chukumba tells investors in a post-earnings research note. He believes management is being conservative in maintaining the Q2 earnings guidance. To reflect the "strong" Q1 results, Chukumba raised his price target for Best Buy shares to $85 from $83 and reiterates a Buy rating on the name.
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