Best Buy (BBY) down to market perform at Telsey ahead of 4Q release
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Dow Jones, Nasdaq, S&P 500 weekly preview: Fed tightening forecasts are inching up
February 27, 2023 7:57 AM ESTLast week, the S&P 500 (SPX) recorded the biggest weekly drop since early December as investors increasingly expect the Fed to continue tightening amid recent hotter-than-expected inflation data.
S&P 500 fell 2.67% with the bears securing the first weekly close below 4000 since mid-January. The index closed the week with its forward 12-month P/E ratio at 17.7, below the 5-year average (18.5) and above the 10-year average (17.2).
As expected, the rate-sensitive Nasdaq Composite Index (IXIC) dropped 3.3% to close below the 200 weekly moving average, which is now expected to act as resistance.
After three weeks of hovering just above the 100 weekly... More
Telsey Downgrades Best Buy (BBY) to Market Perform, 'business is likely to experience a further decline'
February 27, 2023 5:18 AM EST(Updated - February 27, 2023 5:18 AM EST)
Telsey analyst Jospeh Feldman downgraded Best Buy (NYSE: BBY) from Outperform to Market Perform with a price target of $83.00 (from $88.00).
The analyst comments "Downgrading BBY to Market Perform from Outperform: In the near term, we believe Best Buy's business is likely to experience a further decline related to the challenging macro trends weighing... More
Best Buy (BBY) PT Raised to $87 at UBS
February 24, 2023 7:17 AM ESTUBS analyst Michael Lasser raised the price target on Best Buy (NYSE: BBY) to $87.00 (from $80.00) while maintaining a Neutral rating.... More
