SPHD - Best Buy's Top-Line Trends Remain Pressured Says Analyst | Benzinga
BofA Securities analyst Robert F. Ohmes reiterated an Underperform rating on the shares of Best Buy Co Inc (NYSE:BBY) with a price target of $70.00.
Best Buy is expected to report first-quarter FY25 earnings on May 30.
The analyst’s model assumes an enterprise comparable sales decline of (5)%, a modest deceleration from (4.8)% reported in the fourth quarter.
Spending at consumer electronics (CE) & hobby retailers remains negative but improved to (7.2)% in the first quarter vs. (8.6)% in the fourth quarter, per BAC aggregated credit & debit card data, noted the analyst.
While laptop units trended positive in F4Q and Feb, the analyst does not expect innovation in ...