Best Buy focuses on growth, bets on appliances

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Morgan Stanley Expects Holiday Boost on Best Buy (BBY) Following Industry Slowdown; Reiterates Overweight

November 20, 2015 10:45 AM EST

Morgan Stanley reiterated an Overweight rating on Best Buy (NYSE: BBY), and cut the price target to $37.00 (from $40.00), following the company's 3Q earnings report. EPS came in at $0.41, $0.06 better than consensus. Earnings quality was subpar as gross margin was unexpectedly helped by quasi-temporary warranty... More