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Fly News Breaks for February 7, 2020
BBY
Feb 7, 2020 | 08:09 EDT
Oppenheimer analyst Brian Nagel raised his price target for Best Buy to $105 from $86 and reiterated his Outperform rating. In a research note to investors, Nagel says Best Buy shares have rallied and are now tracking at an all-time high. Looking out to the next several quarters, Nagel says he is increasingly of the opinion that the now improved multiple of Best Buy should at least hold and that a still solid, if not strengthening, earnings growth algorithm for the company should underpin a continued grind higher in shares.
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