S&P Revises Outlook on Best Buy (BBY) to Stable, Ratings Affirmed
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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 20, 2013 7:01 AM EDT
(Updated - August 20, 2013 7:12 AM EDT)
Best Buy Co., Inc. (NYSE: BBY) 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. Domestic comps down 0.4 percent, online comps up 10.5 percent, international comps slipped 1.8 percent.
Best Buy CFO Sharon McCollam noted two factors that will impact Q3 and Q4 results: The first is a temporary increase in our mobile warranty costs that is expected to continue through Q1 FY15, commented... More
