Morgan Stanley Maintains Equal-Weight Rating for Best Buy Co: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating for Best Buy Co (NYSE:BBY) and increased its price target from $75.00 to $80.00. Best Buy's shares are currently trading up 0.24% at $76.11 per share. A move to $80.00 would represent a 5.11% increase from the current share price. Best Buy is the largest pure-play consumer electronics retailer in the U.S., with significant investments in e-commerce fulfillment.
August 31, 2023 | 5:00 pm
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Morgan Stanley has maintained its Equal-Weight rating for Best Buy and raised its price target. This could potentially lead to a positive impact on Best Buy's stock in the short term.
Analyst ratings and price targets can significantly influence investor sentiment and stock prices. In this case, Morgan Stanley's decision to maintain its Equal-Weight rating and raise the price target for Best Buy could potentially lead to increased investor confidence and a positive impact on the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100