Best Buy price target lowered to $81 from $95 at Truist

Truist lowered the firm’s price target on Best Buy (BBY) to $81 from $95 and keeps a Hold rating on the shares after its Q4 results. Earnings and guidance were in-line but the stock is down on the early quantification on the potential impact of tariffs, the analyst tells investors in a research note. The additional 10% tariff on China and the 25% hit on Mexico could lead to about 3 points of aggregate comp impact, before factoring in the cumulative effect on consumer spending/elasticity and the pace of decremental margins, the firm adds.