Jefferies Upgrades Best Buy Co to Buy, Raises Price Target to $89
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Jonathan Matuszewski has upgraded Best Buy Co (NYSE:BBY) from Hold to Buy and increased the price target from $69 to $89, indicating a positive outlook for the company's stock.
December 11, 2023 | 10:26 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Best Buy Co's stock rating has been upgraded by Jefferies from Hold to Buy, with a raised price target from $69 to $89, suggesting a bullish stance on the stock's future performance.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest improved fundamentals or future prospects for the company. The increase in price target further reinforces the positive sentiment, indicating that the analyst sees a higher potential value for the stock than previously estimated.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100