Argus would ‘strongly consider’ adding Best Buy to its Buy list

Argus keeps a Hold rating on Best Buy (BBY) but notes that the company’s investments in its e-commerce infrastructure and management’s ability to adapt gives the firm confidence in its ability to launch new initiatives. Best Buy also stands to benefit from sales of new computers, tablets, phones, and wearable devices that are more adept in using artificial intelligence products, the analyst tells investors in a research note, adding that the firm would “strongly consider” adding the stock to its Buy list.