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Best Buy Co., Inc. Message Board

  • jbspectrum jbspectrum Apr 5, 2013 1:46 PM Flag

    Market Talk: Some Best Buy Bears Remain Unvonvinced

    11:21 EDT - Best Buy (BBY) has enjoyed a wave of Wall Street love this year, with at least 9 brokers coming out with buy ratings, but bears like S&P Capital IQ aren't budging. It reiterates sell rating, calling yesterday's 16% share jump driven by Samsung (SSNHY) shop-in-shop news an over-reaction. The shops have little punch against showrooming, which wasn't much of a problem in BBY's mobile phone business anyway, firm notes, and that BBY continues to face competitive pressures from carrier stores and online. Shares give up ground, their 2.2% slide to $24.57 outstripping wider market drop.

    (END) Dow Jones Newswires

    Sentiment: Sell

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    • They use headlines like discounting I-pads and Samsung desks as a vehicle to punch it higher (16%). Most of us know it's all Wall Street BS for a pump and dump in most cases. I don't know if that will happen here time will tell. But the stock is up 108% in three months on turnaround specualtion. The CEO said they will face headwinds in recent statements but Wall Street has to make money. Let's see if they are pushing this higher right before earnings come out and then after they report. That's when the rubber meets the road.

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