Truist lowered the firm’s price target on Best Buy (BBY) to $66 from $73 and keeps a Hold rating on the shares. Q4 comps of down 0.8% were better than the Truist Card reads, though the firm believes that trends were pressured by Walmart’s (WMT) aggressive promotions of big-screen TVs to expand their Vizio platform, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBY:
- Best Buy price target lowered to $72 from $76 at Morgan Stanley
- Best Buy price target raised to $75 from $70 at Evercore ISI
- Best Buy price target lowered to $68 from $71 at Piper Sandler
- Best Buy price target lowered to $76 from $93 at Goldman Sachs
- Best Buy price target raised to $69 from $67 at Citi