These Analysts Revise Price Targets On Best Buy Following Q2 Results
Portfolio Pulse from Lisa Levin
Best Buy Co Inc (NYSE:BBY) reported better-than-expected Q2 results with sales of $9.58 billion and adjusted EPS of $1.22. However, the company revised its FY24 revenue guidance to $43.80 billion-$44.50 billion and expects a comparable sales decline of 4.5% to 6.0%. Following the results, Telsey Advisory Group, Wedbush, and UBS revised their price targets on Best Buy.
August 30, 2023 | 3:15 pm
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Best Buy reported better-than-expected Q2 results but revised its FY24 revenue guidance downwards. Analysts from Telsey Advisory Group, Wedbush, and UBS revised their price targets on the stock.
Best Buy's better-than-expected Q2 results could have a positive impact on the stock. However, the downward revision of its FY24 revenue guidance and the expected decline in comparable sales could negatively impact the stock. The revised price targets by analysts could influence investor sentiment.
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