Best Buy Reports Second Quarter Results
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Morgan Stanley Cuts Price Target on Best Buy (BBY) Following 2Q16 EPS Beat
August 26, 2015 11:34 AM EDTMorgan Stanley maintained an Overweight rating on Best Buy (NYSE: BBY), and cut the price target to $40.00 (from $43.00), following the company's 2Q16 earnings results. BBY delivered Q2 EPS of $0.49, which was 15 cents above consensus. Analyst Simeon Gutman said that the strength of the quarter... More
Jefferies Raises Price target on Best Buy (BBY) Following a Conversation with Management
August 26, 2015 9:24 AM EDTJefferies reiterated a Buy rating on Best Buy (NYSE: BBY), and raised the price target to $50.00 (from $49.00), following a conversation with management. Based on the conversations with management, analyst Daniel Binder believes that initiatives aimed at improving conversion are still ramping.
Binder commented,... More
UBS Raises Price Target on Best Buy (BBY) Following 2Q16 EPS Beat
August 26, 2015 8:34 AM EDTUBS reiterated a Neutral rating on Best Buy (NYSE: BBY), and raised the price target to $35.00 (from $33.00), following the company's 2Q16 earnings results. BBY reported EPS of $0.49 beating consensus of $0.34. Revenues of $8.53B came out ahead of $8.29B consensus.
Analyst Michael Lasser commented, "While there is typically a tendency to hem and haw with BBY's... More
Raymond James Upgrades Best Buy (BBY) to Strong Buy
August 26, 2015 6:38 AM EDTRaymond James upgraded Best Buy (NYSE: BBY) from Market Perform to Strong Buy with a price target of $40.00.
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 $32.95 yesterday.
... MoreBest Buy (BBY) Tops Q2 EPS by 15c
August 25, 2015 7:01 AM EDTBest Buy (NYSE: BBY) reported Q2 EPS of $0.49, $0.15 better than the analyst estimate of $0.34. Revenue for the quarter came in at $8.53 billion versus the consensus estimate of $8.29 billion.
Comps rose 3.8 percent.
Hubert Joly, Best Buy chairman and CEO, commented, We believe these better-than-expected second quarter results are affirmation that our strategy of offering advice, service and convenience at competitive prices is paying off. Enterprise revenue grew 0.8% to $8.5 billion driven by a 3.9% increase in the Domestic segment, partially offset by the impact of the Canadian brand consolidation and 120 basis points of pressure from foreign... More
