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BBY

Best Buy

$64.10

1.91 (3.07%)

10:21
11/20/18
11/20
10:21
11/20/18
10:21

Best Buy sees opportunities in connected health space

CEO Hubert Joly says strong revenue growth was helped by favorable environment driven by customer response to experiences. Says continues to make significant progress on Best Buy 2020. Says GreatCall is off to a great start. Says excited about opportunities to help aging consumers. Says continues to see encouraging results form Total Tech Support program. Says expanded In-Home Advisor program. Says continuing to invest in customer experience enhancements. Says making it easier for customers to use the Best Buy App to shop online and in store. Says investing in a range of enablers, says tracking according to plan in investments. Says continuing to invest in labor and investing in compensation and benefits of associates. Says excited about holiday plans. Says excited to offer Total Tech Support as a gift item. Says materially upgraded online gift center. Says likes opportunity to offer customers more consultative approach. Says particularly likes opportunities in connected health space. Says estimates $200B in tariffs touches only about 7% of products sold. Says expects tariff impact to be minimal for the year. Says expects trade negotiations with China to progress. Says working to mitigate tariff impact for next year. Comments taken from Q3 earnings conference call.

  • 20

    Nov

  • 05

    Dec

BBY Best Buy
$64.10

1.91 (3.07%)

11/12/18
LOOP
11/12/18
NO CHANGE
Target $88
LOOP
Buy
Best Buy sell-off on Amazon's Apple distribution overdone, says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Buy rating and $88 price target on Best Buy (BBY), calling the 7.4% drop in its stock price on Friday "overdone". The analyst points to the news of Amazon (AMZN) starting to offer a much wider variety of Apple (AAPL) products, but believes that the impact on Best Buy is unlikely to be material. Chukumba cites Amazon's plans to sell products at the same "Apple-mandated prices as Best Buy", adding that a fair amount of Amazon's sales of Apple products will "cannibalize Apple unauthorized sales that were previously taking place on its website".
11/12/18
BERN
11/12/18
NO CHANGE
BERN
Best Buy status as 'last man standing' not enough to support valuation, says Bernstein
Bernstein analyst Brandon Fletcher notes that news reports suggest that Amazon (AMZN) has made a deal for a larger and more first-party controlled top-tier brand assortments. The analyst suspects Amazon may be in line for a higher allocation on new products if the relationships deepen with top vendors. Best Buy (BBY) has lived on very large allocations of new products because some customers need some help in stores and some product makers need some help in promotion of new releases, he contends. With smartphone launches covered intensely by social media networks and traditional media, it was never clear to Fletcher how long that Best Buy would defend the promotional aspect, leaving it playing only a shrinking role of support for a subset of customers who still want some traditional retail Service. However, the analyst believes that group is aging out and Best Buy's protected status as the "last man standing" in electronics may not be enough to support the high valuations.
11/13/18
BOFA
11/13/18
DOWNGRADE
Target $70
BOFA
Neutral
Best Buy downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Curtis Nagle downgraded Best Buy to Neutral from Buy and cut its price target to $70 from $92 due to expectations for slowing industry growth, difficult comps in key products and cost inflation. Nagle believes Best Buy can grow earnings over the next few years, but at a slower rate and does not believe a premium multiple is warranted.
11/13/18
11/13/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lumentum (LITE) downgraded to Neutral from Overweight at JPMorgan with analyst Samik Chatterjee saying yesterday's negative pronouncement underscored the challenges likely to be faced by Apple (AAPL) supply chain companies in delivering to investor expectations as Apple continues to prioritize its premium pricing strategy on iPhones relative to volumes. 2. Best Buy (BBY) downgraded to Neutral from Buy at BofA/Merrill with analyst Curtis Nagle citing expectations for slowing industry growth, difficult comps in key products and cost inflation. 3. Perrigo (PRGO) downgraded to Hold from Buy at Berenberg with analyst Patrick Trucchio saying although the key reason to own Perrigo shares remains intact, namely the U.S. government's push to shift more products from prescription to nonprescription, "too much uncertainty in generics has placed us on the sidelines." 4. Sabra Health Care (SBRA) downgraded to Neutral from Buy at Mizuho with analyst Richard Anderson saying he wants to a take a "pause" until the earnings reset from the "surprise news" of Senior Care stopping rent payments since May becomes better understood. 5. Infinera (INFN) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Meta Marshall saying she sees "no reason to race in" until there are signs that the revenue base has stabilized. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SWK

Stanley Black & Decker

$147.37

1.89 (1.30%)

06:20
04/24/19
04/24
06:20
04/24/19
06:20
Earnings
Stanley Black & Decker raises FY19 adj. EPS view to $8.50-$8.70 from $8.45-$8.65 

Consensus $8.53.

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LULU

Lululemon

$176.83

3.82 (2.21%)

06:18
04/24/19
04/24
06:18
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06:18
Periodicals
Lululemon CEO says company has no plans to reduce prices, WSJ reports »

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  • 24

    Apr

KHC

Kraft Heinz

$33.09

0.2 (0.61%)

06:18
04/24/19
04/24
06:18
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06:18
Downgrade
Kraft Heinz rating change  »

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CVE

Cenovus Energy

$10.44

0.01 (0.10%)

06:18
04/24/19
04/24
06:18
04/24/19
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Earnings
Cenovus Energy reports Q1 operating EPS 6c, consensus (2c) »

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K

Kellogg

$58.43

0.07 (0.12%)

06:18
04/24/19
04/24
06:18
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06:18
Hot Stocks
Norway's wealth fund calls for annual elections to Kellogg's board »

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SWK

Stanley Black & Decker

$147.37

1.89 (1.30%)

06:18
04/24/19
04/24
06:18
04/24/19
06:18
Earnings
Stanley Black & Decker reports Q1 adj. EPS $1.42, consensus $1.11 »

Reports Q1 revenue…

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TRGP

Targa Resources

$40.92

-0.06 (-0.15%)

06:16
04/24/19
04/24
06:16
04/24/19
06:16
Initiation
Targa Resources initiated  »

Targa Resources resumed…

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  • 07

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ANTM

Anthem

$250.75

6.71 (2.75%)

06:16
04/24/19
04/24
06:16
04/24/19
06:16
Hot Stocks
Breaking Hot Stocks news story on Anthem »

Anthem backs FY19…

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ANTM

Anthem

$250.75

6.71 (2.75%)

06:15
04/24/19
04/24
06:15
04/24/19
06:15
Hot Stocks
Breaking Hot Stocks news story on Anthem »

Anthem backs FY19 medical…

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TRWH

Twin River Worldwide

$32.57

-0.1 (-0.31%)

06:15
04/24/19
04/24
06:15
04/24/19
06:15
Initiation
Twin River Worldwide initiated  »

Twin River Worldwide…

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TEL

TE Connectivity

$89.80

1.17 (1.32%)

06:15
04/24/19
04/24
06:15
04/24/19
06:15
Earnings
TE Connectivity raises FY19 adj. EPS view to $5.55-$5.65 from $5.35-$5.55 »

Consensus $5.44. Narrows…

03/08/13
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03/08/13
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  • 24

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WYY

WidePoint

$0.43

0.0038 (0.90%)

06:14
04/24/19
04/24
06:14
04/24/19
06:14
Hot Stocks
WidePoint secures contracts worth more than $1.3M »

WidePoint has secured new…

03/08/13
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03/08/13
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  • 30

    May

CSTM

Constellium

$9.40

-0.12 (-1.26%)

06:13
04/24/19
04/24
06:13
04/24/19
06:13
Hot Stocks
Breaking Hot Stocks news story on Constellium »

Constellium sees 2019…

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  • 24

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MRVL

Marvell

$25.11

0.28 (1.13%)

06:13
04/24/19
04/24
06:13
04/24/19
06:13
Recommendations
Marvell analyst commentary  »

Marvell price target…

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TSLA

Tesla

$263.85

0.95 (0.36%)

06:13
04/24/19
04/24
06:13
04/24/19
06:13
Hot Stocks
Tesla announces improved battery ranges for some Model S, Model X vehicles »

Tesla announced a series…

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  • 24

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CSTM

Constellium

$9.40

-0.12 (-1.26%)

06:13
04/24/19
04/24
06:13
04/24/19
06:13
Earnings
Constellium reports Q1 EPS EUR0.17 vs. EUR(0.18) a year ago »

Reports Q1 revenue…

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  • 24

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FCFS

First Cash Financial

$90.91

2.18 (2.46%)

06:12
04/24/19
04/24
06:12
04/24/19
06:12
Hot Stocks
First Cash Financial CEO says 'we are off to a great start in 2019' »

"With these…

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MAR

Marriott

$136.28

0.41 (0.30%)

06:12
04/24/19
04/24
06:12
04/24/19
06:12
Downgrade
Marriott rating change  »

Marriott downgraded to In…

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TEL

TE Connectivity

$89.80

1.17 (1.32%)

06:12
04/24/19
04/24
06:12
04/24/19
06:12
Earnings
TE Connectivity sees Q3 adj. EPS $1.41-$1.45, consensus $1.42 »

Sees Q3 revenue…

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FTDR

Frontdoor

$33.69

0.16 (0.48%)

06:12
04/24/19
04/24
06:12
04/24/19
06:12
Initiation
Frontdoor initiated  »

Frontdoor initiated with…

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  • 29

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CEO

Cnooc

$191.15

-2.12 (-1.10%)

06:11
04/24/19
04/24
06:11
04/24/19
06:11
Hot Stocks
Cnooc signs Petroleum Contract with PetroChina »

Cnooc announced that its…

03/08/13
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TEL

TE Connectivity

$89.80

1.17 (1.32%)

06:10
04/24/19
04/24
06:10
04/24/19
06:10
Earnings
TE Connectivity reports Q2 adj. EPS $1.42, consensus $1.28 »

Reports Q2 revenue…

03/08/13
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TFX

Teleflex

$280.05

5.46 (1.99%)

06:10
04/24/19
04/24
06:10
04/24/19
06:10
Downgrade
Teleflex rating change at Needham »

Teleflex downgraded to…

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03/08/13
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CVX

Chevron

$122.00

0.13 (0.11%)

, APC

Anadarko

$64.12

-0.06 (-0.09%)

06:10
04/24/19
04/24
06:10
04/24/19
06:10
Periodicals
Anadarko sweetened deal payout just before $33B Chevron merger, WSJ says »

A day prior to announcing…

CVX

Chevron

$122.00

0.13 (0.11%)

APC

Anadarko

$64.12

-0.06 (-0.09%)

03/08/13
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FCFS

First Cash Financial

$90.91

2.18 (2.46%)

06:10
04/24/19
04/24
06:10
04/24/19
06:10
Earnings
First Cash Financial raises FY19 EPS view to $3.80-$4.00 from $3.75-$3.95. 

FY19 consensus $3.88.

03/08/13
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03/06/13
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