Best Buy (BBY) PT Lowered to $81 at Truist Amid 'Macro Headwinds and Tariffs'

Truist Securities analyst Scot Ciccarelli lowered the price target on Best Buy (NYSE: BBY) to $81.00 (from $95.00) while maintaining a Hold rating.

The analyst commented: "4Q/’25 guide roughly in-line, but macro headwinds remain and tariffs are a material wildcard; 4Q EPS/CY25 guide largely in-line. However, BBY is down given the early quantification on the potential impact of tariffs. Best Buy ests that the initial 10% tariff on China (~60% of COGS) would adversely impact comps by ~1 point and, we would estimate the earnings impact at ~$0.20/shr (on a $6.40 midpoint). However, we est the additional 10% tariff on China and the 25% hit on Mexico (~20% of COGS), could lead to ~3 points of aggregate comp impact, before factoring in the cumulative effect on consumer spending/elasticity and the pace of decremental margins. Given sizable earnings risk, we remain on the sidelines. PT to $81 from $95."

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