Best Buy Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Best Buy reported better-than-expected Q2 earnings, raising its FY25 EPS guidance. Analysts have adjusted their price targets, with shares rising 14.1% to $100.18.
August 30, 2024 | 1:00 pm
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Best Buy reported strong Q2 results, beating EPS and sales expectations. The company raised its FY25 EPS guidance, though it slightly lowered its revenue outlook. Analysts have increased their price targets, reflecting optimism despite a forecasted slight decline in Q3 comparable sales.
Best Buy's better-than-expected Q2 earnings and raised FY25 EPS guidance are positive indicators for the stock. The increase in analyst price targets further supports a positive short-term outlook. The stock's 14.1% rise reflects market optimism, despite a slight expected decline in Q3 sales.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100