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Best Buy Co., Inc. Message Board

  • crosbers crosbers Jan 13, 2013 12:13 PM Flag

    UNDERPERFORM Reiterated with a $9 Price Target

    From Wedbush on January 12:

    "We reiterate our UNDERPERFORM rating and $9 price target, which reflects further operating margin erosion, low visibility, lack of FY:13 guidance, our view that a takeover is unlikely, and our doubts about the company’s turnaround plan. Our price target reflects a EV/FCF multiple of ≈ 7x our revised FY:14 FCF estimate of $450 million, as we now view free cash flow as a more meaningful measure of the company’s value than P/E."

    Sentiment: Sell

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