What Wallstreet Thinks Of Best Buy Co (NYSE:BBY)?

Posted by admin January 21, 2014 0 Comment 709 views

Best Buy Co (NYSE:BBY) has been under the watchful eyes of many analysts and investors. Post scrutiny, however, most analysts have rated the stock as a “buy” from a previous rating of hold.

The range of the stock projections begin around the 35$ mark from most analysts and it goes as high as 50$ for some. Deutsche Bank has rated the stock as a “buy” and has an objective price of around $36 which has been brought down from its earlier target of $50.

Bank of America has also upgraded the shares for Best Buy to a “buy” in a research note to its investors on the last day of trading. At the current time the shares for Best Buy have an average price of $41.74 with a hold or an average rating. This is however set to change as the market seems to be in a consensus about raising the stock to a buy.

The year high for Best Buy Co (NYSE:BBY) stands at $44.66 and the year end low is at around $13.83. On the last day of trading the stock was priced at$24.43 per share and around 60431056 shares saw trade on the day. The company has a current market cap of around $8.53 billion and it is only growing as this company has been doing well on most fronts.

Q4 earnings

The company reported earnings of $0.18 per share for the fourth quarter which was more than the consensus estimates of $0.11, the revenue for the company for the quarter was around $9.36 billion which was a little dip as compared to last year but still the company has now carved out its own place in the market dealing in electronics, entertainment products and other such consumer related products as well as services.

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