Guggenheim analyst Steven Forbes maintains $Best Buy (BBY.US)$ with a buy rating, and adjusts the target price from $86 to $105.
According to TipRanks data, the analyst has a success rate of 59.2% and a total average return of 13.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Best Buy (BBY.US)$'s main analysts recently are as follows:
Best Buy's Q3 results may exert slight pressure on forward estimates; however, it still presents a compelling risk-reward opportunity.
Best Buy's Q3 results appeared somewhat below expectations. It is assessed that the uneven macroeconomic environment is decelerating the recovery in consumer electronics. Nonetheless, this is viewed merely as a temporary delay in achieving positive same-store sales rather than a cause for significant concern.
Best Buy's third-quarter operating results were described as mixed. Nevertheless, the adjusted EPS marginally surpassed expectations and Best Buy has consistently met or exceeded its forward quarterly EBIT margin guidance for seven successive quarters. Alongside the potential for continued improvement across its various profit centers, the outlook for the consumer electronics sector suggests a favorable turn anticipated in 2025.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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