Reported 3 days ago
Wedbush has initiated coverage on Best Buy Co. Inc. (NYSE:BBY) with a Neutral rating and a price target of $75, down from $83, just before the company's Q1 FY2026 earnings report. While Best Buy shares rose 12% recently due to easing tariff concerns, Wedbush indicates significant risks remain due to ongoing tariffs affecting Chinese imports. The company projects revenue between $41.4 billion and $42.2 billion for FY2026, with anticipated comparable sales growth slowing down, and recent sales figures show a 2.3% decline year-over-year.
Source: YAHOO