Morgan Stanley analyst Simeon Gutman raised the firm’s price target on Best Buy (BBY) to $82 from $75 and keeps an Equal Weight rating on the shares. Sustained momentum from replacement cycles and “solid” execution underpin near-term performance, but longer-term upside hinges on a recovery in higher-margin categories, the analyst tells investors in a post-earnings note.
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Read More on BBY:
- Best Buy price target raised to $99 from $97 at JPMorgan
- Best Buy price target raised to $96 from $93 at UBS
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- Cautious Outlook on Best Buy: Sell Rating Amid Competitive Pressures and Sector Challenges
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