Makor Downgrades Best Buy (BBY) to Hold

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Makor downgraded Best Buy (NYSE: BBY) from Buy to Hold with a price target of $22.00. Analysts said the stock reached its price target and may continue to move higher, but evidence of a turnaround will be necessary.

"We move our rating on BBY from BUY to HOLD as the stock has reached our initial target despite the collapse of the LBO bid process," said the firm.

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 $21.50 yesterday, with a 52 week range of $11.20-$27.95.

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