Best Buy: Wedbush still 'neutral' ahead of quarterly report
(CercleFinance.com) - Wedbush Securities maintains its "neutral" rating on Best Buy, with a target price of 71 dollars, expecting a "decent" report when the company publishes its first-quarter results on 23 May.
According to the broker, the US electronics retailer appears to have settled on the right formula for long-term growth.
"We applaud Best Buy for its many accomplishments, not least of which is achieving the difficult financial targets it has set for itself year after year," Wedbush said.
"While we remain concerned about competition from Amazon, we think Best Buy can continue to grow in the near-term from a higher mix of services and appliances," it added.
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