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BBY

Best Buy

$63.54

1.35 (2.17%)

06:26
11/21/18
11/21
06:26
11/21/18
06:26

Best Buy upgraded to Neutral from Underperform at Wedbush

  • 05

    Dec

BBY Best Buy
$63.54

1.35 (2.17%)

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.
11/20/18
LOOP
11/20/18
NO CHANGE
Target $88
LOOP
Buy
Best Buy 'continued to impress' in Q3, says Loop Capital
Loop Capital analyst Anthony Chukumba says Best Buy "continued to impress" in Q3. He reiterates a Buy rating on the shares with an $88 price target. Management's Q4 comp guidance was particularly encouraging as the quarter contains the most difficult year-over-year comparison in well over a decade and there is "widespread stories of iPhone production cuts," Chukumba tells investors in a post-earnings research note. He believes Best Buy remains "very well positioned" as the "last man standing" in terms of dedicated consumer electronics retailers.

TODAY'S FREE FLY STORIES

TEVA

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PVG

Pretium Resources

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FCAU

Fiat Chrysler

$15.47

-0.2 (-1.28%)

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, XLU

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$56.81

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General news
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iShares 20+ Year Treasury Bond Fund

$118.47

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$102.57

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iShares 1-3 Year Treasury Bond

$83.31

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iShares Russell 1000 Growth

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EEI

Ecology & Environment

$11.50

0.2 (1.77%)

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LBC

Luther Burbank

$8.96

-0.045 (-0.50%)

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MYND

MYnd Analytics

$1.33

0.01 (0.76%)

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RLGT

Radiant Logistics

$4.76

-0.06 (-1.24%)

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KALV

KalVista

$22.62

-1.39 (-5.79%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

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RTN

Raytheon

$169.87

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EOG

EOG Resources

$100.08

-2.73 (-2.66%)

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FNCB

First National Community Bancorp, Inc.

$9.35

0.04 (0.43%)

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TXT

Textron

$49.49

-0.48 (-0.96%)

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FLDM

Fluidigm

$7.79

-0.39 (-4.77%)

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  • 12

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WTFC

Wintrust Financial

$67.41

-0.88 (-1.29%)

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AMC

AMC Entertainment

$14.51

-0.35 (-2.36%)

17:04
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EFX

Equifax

$97.19

0.07 (0.07%)

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DFS

Discover

$61.83

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AUTO

AutoWeb

$2.34

-0.01 (-0.43%)

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CNI

Canadian National

$77.33

-1.39 (-1.77%)

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CSCO

Cisco

$45.80

-1.66 (-3.50%)

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  • 17

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TEL

TE Connectivity

$73.01

-0.59 (-0.80%)

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TEL

TE Connectivity

$73.01

-0.59 (-0.80%)

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