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Best Buy Analyst Turns Bullish After Meetings With Management

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Earlier this month, Best Buy Co Inc (NYSE: BBY) reported higher-than-expected results for its fourth quarter.

Meetings with management boosted confidence in the company’s business “showing signs of stabilization and improvement after nine consecutive quarters of negative comps, according to Telsey Advisory Group.

The Best Buy Analyst: Joseph Feldman upgraded the rating for Best Buy from Market Perform to Outperform, while raising the price target from $85 to $95.

The Best Buy Thesis: The company’s business is poised to be driven by the start of the replacement cycle, especially for products purchased between 2019 and …

Full story available on Benzinga.com

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