BBY - Best Buy To Stabilize Despite A Soft Q1 Analysts Say | Benzinga
Best Buy Co Inc (NYSE:BBY) reported first-quarter FY24 earnings. Following are the comments of different analysts on the same.
Truist Securities – Reiterates Hold, price target lowered from $87 to $86
Analyst Scot Ciccarelli expects some comp acceleration through CY24 as pandemic-related pull forward demand continues. Meanwhile, the analyst suspects that macro pressures on discretionary goods will still limit the rate of improvement.
The analyst notes the stock’s 10% gain after the results is largely a function of depressed sentiment coming into the print and is reversing the downward move from the last six weeks.
Overall, the analyst notes that the challenging environment will likely limit incremental upside and prefers to remain on the sidelines.
Goldman Sachs – Reiterates Buy, price target raised from $90 to $95
Analyst Kate McShane noted BBY reported better-than-expected results and provided guidance that still ...