Best Buy To Stabilize Despite A Soft Q1, Analysts Say
Portfolio Pulse from Shivani Kumaresan
Best Buy Co Inc (NYSE:BBY) reported first-quarter FY24 earnings, leading to mixed analyst reactions. Truist Securities reiterated a Hold rating with a slight price target reduction, while Goldman Sachs and Telsey Advisory Group maintained positive outlooks with increased price targets. J.P. Morgan also reiterated an Overweight rating. Analysts noted better-than-expected results but highlighted ongoing macroeconomic challenges.
May 31, 2024 | 6:10 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Best Buy reported better-than-expected Q1 FY24 earnings, leading to mixed analyst reactions. Truist Securities reiterated a Hold rating with a slight price target reduction, while Goldman Sachs and Telsey Advisory Group maintained positive outlooks with increased price targets. J.P. Morgan also reiterated an Overweight rating. Analysts noted better-than-expected results but highlighted ongoing macroeconomic challenges.
The mixed analyst reactions indicate a cautious optimism. While some analysts have raised their price targets and maintained positive ratings, others have highlighted ongoing macroeconomic challenges. The overall sentiment is slightly positive, suggesting a potential short-term price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100