Best Buy Co. (BBY) : Analyst Rating Update

Best Buy Co. (BBY) : Zacks Investment Research ranks Best Buy Co. (BBY) as 2, which is a Buy recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 15 research analysts is 2.4, which indicates as a Buy.

Best Buy Co. (BBY) : 13 Wall Street analysts covering Best Buy Co. (BBY) believe that the average level the stock could reach for the short term is $33.27. The maximum price target given is $45 and the minimum target for short term is around $21, hence the standard deviation is calculated at $6.57.

Best Buy Co. (NYSE:BBY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.14 and $29.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.64. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.63, notching a gain of 0.89% for the day. The total traded volume was 4,961,287 . The stock had closed at $30.36 on the previous day.

Also, Longbow Research initiates coverage on Best Buy Co. (NYSE:BBY) The current rating of the shares is Neutral. The rating by the firm was issued on June 16, 2016. The company shares have dropped -9.43% from its 1 Year high price. On Sep 17, 2015, the shares registered one year high at $39.10 and the one year low was seen on Jan 15, 2016. The 50-Day Moving Average price is $30.89 and the 200 Day Moving Average price is recorded at $30.86.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The Company offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States, Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories, operating e-commerce, retail store and call center operations under a range of brand names, including, Best Buy (, Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition, the Company operates Magnolia Home Theater, Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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