Barclays Maintains an 'Equalweight' on Best Buy (BBY); 3Q Missed; CE Remains Highly Promotional; Maintain Our Low End Estimates

Barclays maintains an 'Equalweight' on Best Buy (NYSE: BBY) price target of $25.00.

Barclays analyst says, "3Q EPS below our expectations. Best Buy reported 3Q EPS from continuing operations of $0.47, which was below our estimate of $0.51 and consensus expectations of $0.51. This represents a decrease of 14% from EPS of $0.54 last year...Our below-consensus estimates are unchanged. We continue to expect 4Q EPS of $2.07, full-year 2011 EPS of $3.33 and full-year 2012 EPS of $3.80. Our 2011 EPS estimate is $0.11 below the Street and our 2012 EPS estimate is $0.08 below the Street."

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 $23.73 yesterday.

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