Analysts say to buy Best Buy stock for an AI device upgrade boost and a whole lot more [MSNBC.com]
Best Buy Co., Inc. (BBY)
Last best buy co., inc. earnings: 2/27 07:00 am
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Source: MSNBC.com
Another Wall Street firm has turned positive on Best Buy — making the case that an artificial intelligence-fueled upgrade cycle for PCs is hardly the only reason that investors should purchase the stock. UBS on Monday boosted Best Buy to a buy rating from neutral and lifted its price target on shares to $106 apiece from $85. That implies an over 21% gain from Friday's close. The analysts cited "multiple paths to potential upside" for the stock including a rebound in housing, growing sales in newer product categories, and a broader electronics replacement cycle. Shares of Club name Best Buy have been on a tear lately — jumping more than 4% on Monday to intraday highs last seen in February 2023. The stock, which has gained roughly 24% over the past month, still has room to run to break its Covid-era record high of just under $142. The last personal computer boom was in the early days of the pandemic when people outfitted their home offices for work from home. BBY 5Y mountain Best Buy 5
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BBY
News
- First Best Buy Express store opens today - Best Buy Canada and Bell Canada launch innovative retail partnership [Yahoo! Finance]Yahoo! Finance
- Meet the millionaires next door. These Americans made millions out of nothing. [USA TODAY]USA TODAY
- Did Best Buy Co., Inc. (BBY)'s Restructuring Efforts Improve Its Earnings Potential? [Yahoo! Finance]Yahoo! Finance
- Best Buy has trained more than 30K employees to help sell new AI-enabled computers in hopes of ending a sales slump [Business Insider]Business Insider
- Ulike Makes Debut Entrance Into U.S. Retail Market Via Strategic Partnership with Best Buy [Yahoo! Finance]Yahoo! Finance
BBY
Earnings
- 5/30/24 - Beat
BBY
Sec Filings
- 6/25/24 - Form 11-K
- 6/14/24 - Form 4
- 6/14/24 - Form 4
- BBY's page on the SEC website