BBY - Goldman Sachs Upgrades Best Buy Sees Potential For Positive Demand Inflection | Benzinga
Goldman Sachs analyst Kate McShane upgraded Best Buy Co., Inc (NYSE: BBY) to Buy from Neutral, raising the price target to $85 from $79.
McShane sees the potential for a positive demand inflection to drive upside for Best Buy, primarily through multiple expansions.
The analyst highlighted the recent commentary surrounding stabilizing demand for certain tech products and sees the potential for demand to stabilize and/or recover next year, supported by innovation and the upgrade/replacement cycle.
Industry-wide demand for consumer ...