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Fly News Breaks for November 27, 2019
BBY
Nov 27, 2019 | 08:28 EDT
RBC Capital analyst Scot Ciccarelli raised his price target on Best Buy to $86 after its "solid" Q3 domestic comp of up 2% and an earnings beat featuring "strong" operating leverage. The analyst still keeps his Sector Perform rating on the stock however, noting that while the management's guidance "attempts to assume" the worst case scenario for tariffs, he believes that deteriorating Consumer Electronics category trends and a volatile holiday spending environment warrants a "more cautious stance".
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