Jefferies Maintains a 'Hold' on Best Buy (BBY); Keeping Market Share, But at a High Price
Tweet Send to a FriendGet Alerts BBY Hot Sheet
Price: $25.64 -4.36%
Rating Summary:
12 Buy, 9 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
12 Buy, 9 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade BBY Now!
Jefferies maintains a 'Hold' on Best Buy (NYSE: BBY) price target of $20.00 (from $21.00).
Analyst, Daniel Binder, said, "Absent progress by Mr. Schulze to move the due diligence process along, BBY likely stays in limbo. Already cheap and discounting lots of bad news, we managed to get more bad news today with an EPS miss, poor cash flow, no reorg plan, and suspended guidance and share buyback. Shares may get support at these levels on continued hopes of a takeout, but risks remain as margins plummet in order to keep flat to modest market share gains."
FY12 EPS estimate lowered from $3.51 to $3.44 and FY13 from $3.64 to $3.00.
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 $17.91 yesterday, with a 52 week range of $16.25-$28.53.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Daniel Binder, said, "Absent progress by Mr. Schulze to move the due diligence process along, BBY likely stays in limbo. Already cheap and discounting lots of bad news, we managed to get more bad news today with an EPS miss, poor cash flow, no reorg plan, and suspended guidance and share buyback. Shares may get support at these levels on continued hopes of a takeout, but risks remain as margins plummet in order to keep flat to modest market share gains."
FY12 EPS estimate lowered from $3.51 to $3.44 and FY13 from $3.64 to $3.00.
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 $17.91 yesterday, with a 52 week range of $16.25-$28.53.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Best Buy (BBY) May Show Progress on Earnings Front, UBS Remains Neutral
- Actavis (ACT) Fairly Valued After Run-Up - Jefferies
- Jefferies Boosts Price Target on TiVo (TIVO)
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & Co, Stock Buyback
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
