Analyst Kate McShane from Goldman Sachs maintained a Buy rating on Best Buy Co (BBY – Research Report) and keeping the price target at $101.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Kate McShane has given her Buy rating due to a combination of factors including Best Buy’s better-than-expected earnings per share (EPS) for the first quarter of 2026, which surpassed both Goldman Sachs’ and consensus estimates. Despite a slight decline in sales, the company’s domestic online sales showed growth, and the adjusted EBIT margin also exceeded expectations, indicating operational efficiency.
Additionally, the increase in domestic gross margin, driven by improved performance in the service category, and the reduction in SG&A expenses contributed positively to the financial outlook. Although there were some downward adjustments in future guidance, the overall financial health and strategic initiatives of Best Buy support a positive long-term investment outlook, justifying the Buy rating.
McShane covers the Consumer Cyclical sector, focusing on stocks such as Best Buy Co, Williams-Sonoma, and Five Below. According to TipRanks, McShane has an average return of 5.3% and a 60.82% success rate on recommended stocks.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $95.00 price target.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue