Telsey Advisory Group Maintains Market Perform on Best Buy Co, Lowers Price Target to $80
Portfolio Pulse from Benzinga Newsdesk
Telsey Advisory Group analyst Joseph Feldman has maintained a 'Market Perform' rating on Best Buy Co (NYSE:BBY) but lowered the price target from $85 to $80.
November 17, 2023 | 10:30 am
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NEGATIVE IMPACT
Best Buy's price target has been reduced from $85 to $80 by Telsey Advisory Group, although the 'Market Perform' rating remains unchanged.
A lowered price target can often lead to a negative short-term reaction in the stock price as it suggests a lower valuation by analysts. However, since the rating remains 'Market Perform', the impact may be somewhat mitigated.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100