UBS Asks Best Buy (BBY): Will It Work? There's No Simple Answer
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Price: $85.91 -0.59%
Rating Summary:
7 Buy, 25 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
7 Buy, 25 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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UBS maintains a 'Neutral' on Best Buy (NYSE: BBY) price target lowered $1 to $26.
UBS analyst said, "On many levels, the question coming out of Best Buy’s fourth quarter results was: will it work? Not just from the perspective of whether or not the initiatives that the company outlined will have a positive impact on its financial performance. But also from the vantage point of will these announcements and the comments from management convince the market that the company is serious about taking steep steps to evolve with the changing marketplace. With the stock ending the day down nearly 7%, the market voiced its skepticism, but in reality only time will tell."
Analyst, Michael Lasser, thinks Best Buy lacks any near-term catalysts, and the company's strategy will take time to unfold...meanwhile trends will probably remain pressured.
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 $24.77 yesterday.
UBS analyst said, "On many levels, the question coming out of Best Buy’s fourth quarter results was: will it work? Not just from the perspective of whether or not the initiatives that the company outlined will have a positive impact on its financial performance. But also from the vantage point of will these announcements and the comments from management convince the market that the company is serious about taking steep steps to evolve with the changing marketplace. With the stock ending the day down nearly 7%, the market voiced its skepticism, but in reality only time will tell."
Analyst, Michael Lasser, thinks Best Buy lacks any near-term catalysts, and the company's strategy will take time to unfold...meanwhile trends will probably remain pressured.
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 $24.77 yesterday.
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