Best Buy price target lowered to $60 from $69 at Citi

Citi lowered the firm’s price target on Best Buy (BBY) to $60 from $69 and keeps a Neutral rating on the shares. Citi adjusted targets in broadlines and hardlines retailing as part of a Q1 preview. While the consumer has remained “resilient,” concerns are higher around weakness going forward, the analyst tells investors in a research note. The firm sees mostly in-line to slightly above the Street estimate Q1 reports.