Best Buy (BBY) Tops Q2 EPS by 20c; Comps Down 0.6%; Sees Challenges in Q3, Q4
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Go back to Best Buy (BBY) Tops Q2 EPS by 20c; Comps Down 0.6%; Sees Challenges in Q3, Q4
August 22, 2013 10:12 AM EDT
UBS lifted its price target on Best Buy (NYSE: BBY) from $31 to $35 following Q2 results, saying the quarter was impressive on several levels. The firm, however, stopped short of upgrading the stock and maintained a Neutral rating.
Analyst Michael Lasser... More
August 21, 2013 11:41 AM EDT
Goldman Sachs maintained a Buy rating on Best Buy (NYSE: BBY) and boosted its price target of $37.00 (from $34.00). Analyst Matthew J. Fassler noted stabilization in the company's core business.
"BBY's 2Q2013 results revealed a more stable core business than the Street
expected," said... More
August 21, 2013 7:19 AM EDT
Jefferies analyst Daniel Binder reiterated a Buy rating on Best Buy (NYSE: BBY) and raised its price target from $35 to $40 following solid Q2 results.
Binder comments, "BBY handily beat EPS expectations in Q2, reflecting slightly better sales, much better gross margin and... More
August 20, 2013 2:40 PM EDT
B. Riley upgraded Best Buy (NYSE: BBY) from Neutral to Buy.
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 $30.73 yesterday, with a 52 week range of $11.20-$32.17.... More
August 20, 2013 2:34 PM EDT
KeyBanc today maintained a Hold rating on Best Buy (NYSE: BBY). Analyst Bradley B. Thomas thinks the company's turnaround is taking shape, but pointed out that the stock no longer trades at a significant discount.
"We applaud management's turnaround initiatives, and... More
August 20, 2013 8:09 AM EDT
Today, big-box retailer Best Buy (NYSE: BBY) issued quarterly results, showing an impressive 20 cent EPS "beat," though total comparable-store sales slipped 0.6 percent. Management also said it sees challenges in fiscal Q3 and Q4 due to mobile warranty costs and a new private-label credit card agreement which will carry a higher rate than the one it currently receives.
Another point made today is that Amazon (Nasdaq:... More
August 20, 2013 8:06 AM EDT
On Tuesday morning, shares of Best Buy Co., Inc. (NYSE: BBY) moved higher in the wake of positive Q2 results. The retailer reported Q2 EPS of $0.32, $0.20 better than the analyst estimate of $0.12. Revenue for the quarter came in at $9.30 billion versus the consensus estimate of $9.13 billion. Total comps fell 0.6 percent.
Commenting on developments,... More
