2024-01-25 01:14:12 ET
Summary
- I gave a buy rating to BBY due to its attractive capital return story and potential growth recovery in the second half of 2024.
- However, near-term growth is expected to remain weak, with negative performance in consumer electronics, computing, mobile phones, and appliances.
- There is potential for a medium-term turnaround driven by a likely demand recovery in PCs and smartphones, but prolonged macro weakness could delay this until 2025.
Overview
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Best Buy: Capital Return Story Attractive With Possible Demand Recovery