Barclays Q1 Preview on Best Buy (BBY); Continued Caution on Industry and Company Uncertainty
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Price: $85.44 --0%
Rating Summary:
7 Buy, 25 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
Rating Summary:
7 Buy, 25 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
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Barclays maintains an 'Equalweight' on Best Buy (NYSE: BBY) price target cut from $25 to $21.
Analyst, Alan M. Rifkin, said, "We forecast 1Q EPS of $0.68, although the CE space in which Best Buy operates remains highly competitive, lending to the potential for additional downside to our estimates. We are forecasting domestic (2.0)% comps (vs. a 3.8% decline LY). All in, we are forecasting operating margins of 3.40%, or (68) bps y/y..."
Rifkin says that despite valuation looking appealing, they remain cautious on the stock, citing tough promos and weak product cycle. He also notes macro challenges in Europe, which is approx 16-18% of total revenues.
BBY reports Q1 earnings of May 22, before the open.
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 $18.44 yesterday.
Analyst, Alan M. Rifkin, said, "We forecast 1Q EPS of $0.68, although the CE space in which Best Buy operates remains highly competitive, lending to the potential for additional downside to our estimates. We are forecasting domestic (2.0)% comps (vs. a 3.8% decline LY). All in, we are forecasting operating margins of 3.40%, or (68) bps y/y..."
Rifkin says that despite valuation looking appealing, they remain cautious on the stock, citing tough promos and weak product cycle. He also notes macro challenges in Europe, which is approx 16-18% of total revenues.
BBY reports Q1 earnings of May 22, before the open.
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 $18.44 yesterday.
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