Best Buy (BBY) Pricing Appears Stronger Than Analysts are Predicting - Raymond James

Raymond James analyst Matthew McClintock reiterated an Outperform rating and $135.00 price target on Best Buy (NYSE: BBY) ahead of the Fourth of July weekend noting the online and in-store checks indicate that both the frequency and level of summer promotions remain below 2020 levels.

The analyst stated "Bottom line is summer promotions so far for BBY are not jumping out as being massively discounted compared to prior years as some investors may have feared (current street consensus is promotional activity to pickup somewhat starting in 2Q and continuing through 2H21)."

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 $114.97 yesterday.

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