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BBY

Best Buy

$63.54

1.35 (2.17%)

06:50
11/21/18
11/21
06:50
11/21/18
06:50

Best Buy price target lowered to $81 from $87 at Piper Jaffray

Piper Jaffray analyst Peter Keith lowered his price target for Best Buy to $81 while reiterating an Overweight rating on the shares. The company reported "very solid" Q3 earnings and continues to show broad-based strength across the store, Keith tells investors in a post-earnings research note. The analyst, however, reduced his multiple assumption slightly to account for slightly slower comp and earnings growth.

  • 05

    Dec

BBY Best Buy
$63.54

1.35 (2.17%)

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.
11/21/18
WEDB
11/21/18
UPGRADE
WEDB
Neutral
Best Buy upgraded to Neutral from Underperform at Wedbush

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