Jefferies Maintains a 'Hold' on Best Buy (BBY); Expects Q2 Miss; Turnaround Still Key

August 20, 2012 7:02 AM EDT Send to a Friend
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Price: $38.41 --0%

Rating Summary:
    16 Buy, 8 Hold, 4 Sell

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    Up: 6 | Down: 12 | New: 23
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Jefferies maintains a 'Hold' on Best Buy (NYSE: BBY) price target of $21.00.

Analyst, Daniel Binder, said, "We remain below the street on Best Buy’s sales and EPS, but expectations and valuation are already low. What will matter more is the restructuring plan we expect management to detail. Further, the exchange between Mr. Schulze and the Board continues to play out, each trying to gain more ground with shareholders."

Sees current Qtr EPS at $0.28, FY at $3.51 and next year at $3.64.

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 $20.27 yesterday.


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