HOT NEWS!!! Analyst Buy Target on BBY RAISED!!!! NOW $38 at BofA/Merrill Lynch / $34 at JP MORGAN
Best Buy (BBY) had its price target raised to $38 at BofA/Merrill Lynch due to BBY’s cost cutting measures. “Buy”-rated Best Buy’s new PT suggests a 48.6% upside to the stock’s current price. BBY has a yield of 2.66%.
(news on d i v i d e n d d o t c o m or analyst sources)
JP MORGAN PRICE TARGET NOW $34
Best Buy Co. BBY +3.04% shares rose 3.6%, recovering from the previous session’s 1% drop. The retailer on Thursday reported adjusted fourth-quarter earnings of $1.24 a share. Though it was below the $1.47 a share earned in the same period a year ago, it beat consensus analyst estimates of $1.01. The stock is rated overweight with a price target of $34 at J.P. Morgan.
Support at 26.40....breaking 27 today or Monday. Should return to 28 some time next week.