Analyst Robert Ohmes from Bank of America Securities maintained a Sell rating on Best Buy Co and keeping the price target at $63.00.
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Robert Ohmes has given his Sell rating due to a combination of factors affecting Best Buy Co. The company’s traffic has shown some improvement, yet the average transaction value has slowed down, indicating potential challenges in maintaining revenue growth. While the marketplace launch is expected to provide some benefits, the overall outlook is hindered by macroeconomic headwinds and tariff uncertainties.
Additionally, Best Buy faces pressure from a competitive omnichannel environment, which could impact its market share in the long term. The company’s gross margin is expected to remain flat, and there is anticipated deleverage in SG&A expenses. Despite some positive developments, such as the marketplace expansion and retail media growth, these are not enough to counterbalance the broader industry challenges and lack of innovation, leading to a maintained Underperform rating.
BBY’s price has also changed moderately for the past six months – from $91.100 to $74.100, which is a -18.66% drop .