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Best Buy (BBY) PT, Estimates Lifted at Jefferies Post Q1

May 22, 2015 7:39 AM EDT
Get Alerts BBY Hot Sheet
Price: $77.13 -1.14%

Rating Summary:
    9 Buy, 21 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Jefferies analyst Daniel Binder bumped estimates and his price target on Buy-rated Best Buy (NYSE: BBY) to $49.00 (from $46.00) amid strong execution against a tough backdrop.

Binder commented, "BBY’s market position has improved, shifting from stabilizing the business to playing offense as large pools of market share are up for grabs. Strong inventory management around port issues and good in-store execution of its new labor model translated to better than expected sales, which outpaced competitors. Mgmt is investing in areas of the business that should add structural advantages and allow it to compete beyond price."

The firm boosted Q2 EPS from $0.23 to $0.33, FY 2015 EPS from $2.48 to $2.69 and FY 2016 EPS from $2.98 to $3.18.

For an analyst ratings summary and ratings history on Best Buy click here. For more ratings news on Best Buy click here.

Shares of Best Buy closed at $35.11 yesterday.



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