Barclays Maintains an 'Equalweight' on Best Buy (BBY); Q2 Preview: Expect Further Uncertainty
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Price: $27.66 --0%
Rating Summary:
13 Buy, 9 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 3 | New: 2
Rating Summary:
13 Buy, 9 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 3 | New: 2
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Barclays maintains an 'Equalweight' on Best Buy (NYSE: BBY) price target of $21.00.
Analyst, Alan M. Rifkin, said, "We forecast 2Q EPS of $0.28, $0.03 below the Street, although given the recent volatility in the CE space, as evidenced by recent results from RadioShack and hhgregg, the potential exists for additional downside to our estimates. We are forecasting domestic (1.4)% comps (vs. a 3.8% decline LY)."
Rifkin also sees operating margins at 1.70%, based on weak gross margins. He also doesn't expect any announcement on changes to strategy as far as store reductions go, however, a deeper consideration for a leveraged buyout by former chairman, may prompt a more aggressive plan. Other notes: International still challenging and don't expect update from ongoing CEO search.
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 $19.36 yesterday, with a 52 week range of $16.97-$28.53.
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Analyst, Alan M. Rifkin, said, "We forecast 2Q EPS of $0.28, $0.03 below the Street, although given the recent volatility in the CE space, as evidenced by recent results from RadioShack and hhgregg, the potential exists for additional downside to our estimates. We are forecasting domestic (1.4)% comps (vs. a 3.8% decline LY)."
Rifkin also sees operating margins at 1.70%, based on weak gross margins. He also doesn't expect any announcement on changes to strategy as far as store reductions go, however, a deeper consideration for a leveraged buyout by former chairman, may prompt a more aggressive plan. Other notes: International still challenging and don't expect update from ongoing CEO search.
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 $19.36 yesterday, with a 52 week range of $16.97-$28.53.
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