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BBY

Best Buy

$63.54

1.35 (2.17%)

07:54
11/21/18
11/21
07:54
11/21/18
07:54

Best Buy price target lowered to $70 from $78 at Credit Suisse

Credit Suisse analyst Seth Sigman lowered his price target for Best Buy to $70 from $78 and reiterated a Neutral rating on the shares. The analyst notes that Best Buy reported "healthy" Q3 results, but his take is mixed as results indicate less outperformance versus the industry benchmarks he tracks, and he believes there is uncertainty on the bridge to Q4 comps. Further, the stock historically has traded primarily with comps, and difficult comparisons ahead may pose a challenge, Sigman contends. That said, the analyst has a high level of confidence in the company's management team, and was encouraged by margin trends in the quarter and the outlook for Q4.

  • 05

    Dec

BBY Best Buy
$63.54

1.35 (2.17%)

11/21/18
PIPR
11/21/18
NO CHANGE
Target $81
PIPR
Overweight
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.
11/21/18
WEDB
11/21/18
UPGRADE
WEDB
Neutral
Best Buy upgraded to Neutral from Underperform at Wedbush
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.
11/13/18
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

DJX

Dow Jones Industrial Average

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XLK

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XLE

Energy Select Sector SPDR

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XLY

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S&P Select Materials SPDR

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XLU

Utilities SPDR

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AY

Atlantica Yield

$20.00

0.1 (0.50%)

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XLP

Consumer Staples Sector SPDR

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0.36 (0.65%)

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XLV

Health Care Select Sector SPDR

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ETFC

E-Trade

$44.26

-1.36 (-2.98%)

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IWM

iShares Trust Russell 2000 Index Fund

$142.79

-2.02 (-1.39%)

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DIA

Diamonds Fund ETF

$246.38

0.54 (0.22%)

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SPY

SPDR S&P 500 ETF Trust

$265.41

-0.12 (-0.05%)

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XLF

Financial Select Sector

$24.49

-0.14 (-0.57%)

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SMH

Market Vectors Semiconductor

$92.11

-0.32 (-0.35%)

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QQQ

Invesco QQQ Trust

$165.11

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SBUX

Starbucks

$66.90

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    Dec

EME

Emcor

$64.78

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$COMP

Nasdaq Composite

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NDX

Nasdaq 100 Index

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PPG

PPG

$100.85

-2.62 (-2.53%)

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08:15
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Conference/Events
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ASPU

Aspen Group

$5.13

-0.43 (-7.73%)

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Conference/Events
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  • 19

    Dec

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