UBS AG Boosts Price Target on Best Buy Co. (BBY)
Equities research analysts at UBS AG (NYSE: UBS) increased their price target on shares of Best Buy Co. (NYSE: BBY) to $19.00 in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock.
A number of other firms have also recently commented on BBY. Analysts at BB&T (NYSE: BBT) downgraded shares of Best Buy Co. from a “hold” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of Best Buy Co. in a research note to investors on Friday, May 18th. Finally, analysts at Bank of America (NYSE: BAC) cut their price target on shares of Best Buy Co. to $16.00 in a research note to investors on Friday, May 18th. They now have a “buy” rating on the stock.
Best Buy Co. traded up 1.06% on Wednesday, hitting $18.7662. Best Buy Co. has a 52-week low of $17.53 and a 52-week high of $32.85. The company’s market cap is $6.422 billion.
Best Buy Co. last posted its quarterly earnings results on Tuesday, May 22nd. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.59 by $0.13. Best Buy Co.’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Best Buy Co. will post $0.49 EPS next quarter.
Best Buy Co, Inc. is a multinational retailer of consumer electronics, home office products, entertainment products, appliances and related services.