Best Buy
Unlike many other retailers that have taken it in the shins lately after reporting dismal holiday sales, BBY actually gained ground in January dues to its strong performance in November and December. That’s good news since we added it on January 5, and we are expecting another surge after the company issues its next quarterly report on March 1.
That’s because for the past two years BBY has almost always jumped in value after issuing its quarterly report due to its ability to consistently come in above expectations. Even though the stock has been in a major uptrend for the past year, it still manages to surprise analysts with its ability to fend off Amazon while transitioning into higher-margin product areas.
Of the 24 Wall Street firms that follow BBY, 16 of them currently have it rated as a ‘hold’ meaning there is plenty of opportunity for upgrades if the news is good next month. Also, their average one-year price target of $46.09 is only 5% above its current price, so once again they appear to be low-balling the company’s performance results.
Stock Talk
Add New Comments
You must be logged in to post to Stock Talk OR create an account