Best Buy price target lowered to $77 from $84 at Truist

Truist lowered the firm’s price target on Best Buy (BBY) to $77 from $84 and keeps a Hold rating on the shares as part of a broader research note previewing 2026 for Hardlines/Broadlines Consumer names. With some slower consumer trends in the second half of FY25 consumers will remain choiceful in their shopping patterns, with a continued focus on “Value”, the analyst tells investors in a research note. For the company, Truist notes that Buy needs a stronger product cycle to generate more sustainable growth and multiple expansion, and while products like AI hardware, smart glasses, and gaming refreshes provide opportunities, comp momentum sustainability remains a question, the firm added.