Wells Fargo lowered the firm’s price target on Best Buy (BBY) to $67 from $75 and keeps an Equal Weight rating on the shares. Despite positive tariff news, Best Buy’s share underperformance makes sense via weaker Q1 comparable sales and lower EPS outlook amid tariff uncertainty and few signs of demand improvement. Holding EBIT% year-over-year helps, but low room for error keeps Wells sidelined.
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