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Fly News Breaks for February 6, 2020
BBY
Feb 6, 2020 | 08:55 EDT
Guggenheim analyst Steven Forbes said he expects the recent suspension of List 4b tariffs and the reduction of List 4a tariffs to improve Best Buy's outlook, but he anticipates the company to issue "relatively" in-line initial 2020 guidance for comps to grow 1%-3%, with flat EBIT margins and EPS of $6.15-$6.35. However, he thinks the company's improving secular growth outlook will be further "validated" in 2020 and reiterates his Buy rating and Best Idea designation on the stock ahead of the company's report later this month.
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