JPMorgan raised the firm’s price target on Best Buy (BBY) to $99 from $97 and keeps an Overweight rating on the shares. The company reported strong results with comp and margin upside, the analyst tells investors in a research note. The firm believes the Q3 report is Best Buy’s “first step forward with accelerating data trends taking the stock higher in early December.”
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Read More on BBY:
- Best Buy price target raised to $96 from $93 at UBS
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- Cautious Outlook for Best Buy: Hold Rating Amid Uncertainty and Growth Challenges
- Best Buy Reports Strong Q3 Results and Raises Guidance