Best Buy price target lowered to $90 from $95 at DA Davidson

DA Davidson lowered the firm’s price target on Best Buy (BBY) to $90 from $95 and keeps a Buy rating on the shares after its Q1 results. The company’s tariff situation has greatly improved versus the concerns that impacted the stock in March and is likely to continue to improve with potential policy changes, though this is also being offset by weaker comp, which is heightening share concerns as other channels seem to be showing better consumer electronics trends, the analyst tells investors in a research note.