Argus analyst Chris Graja writes that the latest Investor Day presentation by Best Buy was positive, noting he was particularly impressed by the company's supply chain and fulfillment initiatives while also citing the discussion by its Chief Supply Chain Officer Rob Bass regarding investments being made to support its "fast-growing" e-commerce business. The analyst is still keeping his FY21 EPS view of $5.95 and his Hold rating on the shares however, stating that Best Buy stock is "fairly valued" at 11.3-times his expected FY20 forecast and 11.0-times his FY21 view.