Street calls of the week: Upgrades for Best Buy and Lululemon [Yahoo! Finance]
Best Buy Co., Inc. (BBY)
Last best buy co., inc. earnings: 2/27 07:00 am
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US:NYSE Investor Relations:
investors.bestbuy.com/investor-relations/overview/default.aspx
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Source: Yahoo! Finance
InvestingPro subscribers always get first dibs on market-moving rating changes. Best Buy What happened? On Monday, Citi double upgraded Best Buy (NYSE:BBY) to Buy with a $100 price target. What's the full story? Citi is double upgrading BBY shares from Sell to Buy. The research team believes that the catalyst path looks positive from here with upside potential to both earnings and valuation. This is based on tech replacement cycles underway, new AI innovation providing incremental demand, and margin execution remaining solid. Last week's 1QF25 earnings print proved GM execution remains best-in-class with company specific drivers able to offset external pressures like higher promotional activity. Simply put, that was a thesis changer versus Citi's prior negative thesis. The research team acknowledges 2H SSS risk in the face of consumer uncertainty (election distraction and shortened holiday calendar). However, Citi believes it's prudent to look at the multi-year opportunity
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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