Wells Fargo Maintains Equal-Weight on Best Buy Co, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Zachary Fadem has maintained an Equal-Weight rating on Best Buy Co (NYSE:BBY) but has reduced the price target from $80 to $65.

November 13, 2023 | 2:37 pm
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Wells Fargo analyst Zachary Fadem maintains an Equal-Weight rating on Best Buy Co and lowers the price target from $80 to $65.
The reduction in price target by Wells Fargo is likely to be viewed negatively by investors, potentially leading to a short-term decline in Best Buy's stock price. The Equal-Weight rating suggests that the analyst sees the stock as fairly valued at its current price, but the lowered price target indicates a reduced expectation of future price performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100