Possibly they have a multi-year target. I remember where Circuit City was trading for quite awhile in the $20's before the down trend began. I'm not saying that's BBY's fate but there are some analysts who do believe it ( the chartist Abigail Doolittle and Mike Pachter from Wedbush believe so ). The funny thin is I got short 2000 shares of CC around $23 plus after the holidays one year when they lost money during the Christmas quarter. The stock would not go down for quite some time so I covered with a small profit and then we all know what happened eventually. I used to shop in Circuit City and liked the store.
Actually wedbush set that target months ago in November when the stock was trading 11 something. In fact their "new" April analysis read eerily like the November analysis (see Benzinga report) Like nothing's happened since then. Just dust off the old report. I thought 29 was more like it but, from here, I think even 29 is low. You saw Deutsche Bank target yesterday of 28 along with upgrade to buy.