BofA analyst Robert Ohmes lowered the firm’s price target on Best Buy (BBY) to $63 from $75 and keeps an Underperform rating on the shares. While Best Buy only directly imports 2%-3% of its assortment, the firm thinks vendors are likely to pass along some level of tariff costs to retailers and it lowered its FY27 EPS forecast and its multiple on a weaker near-term outlook and long-term market share pressure from omnichannel competition.
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