Best Buy price target lowered to $110 from $117 at DA Davidson

DA Davidson lowered the firm’s price target on Best Buy (BBY) to $110 from $117 and keeps a Buy rating on the shares. The company beat on the top and bottom lines as the consumer electronics product cycle begins taking shape and its 2025 guidance was favorable, though the post-earning selloff was likely attributed to tariffs, as China and Mexico are Best Buy’s top two sources of product, the analyst tells investors in a research note. The firm adds however that the company’s fundamentals are improving, with accelerating growth in key categories like laptops.