Morgan Stanley lowered the firm’s price target on Best Buy (BBY) to $75 from $85 and keeps an Equal Weight rating on the shares. The firm believes the bull case for Best Buy, in which a product cycle accelerates comp growth and yields operating leverage, remains intact, but this is clouded by tariff risks, the analyst tells investors in a post-earnings note.
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Read More on BBY:
- Best Buy price target lowered to $70 from $75 at Wedbush
- Best Buy price target lowered to $90 from $95 at UBS
- Best Buy price target lowered to $80 from $90 at Loop Capital
- Best Buy Co: Hold Rating Amid Growth Potential and Tariff Challenges
- Best Buy price target lowered to $82 from $92 at Piper Sandler