Best Buy: Wedbush raises target price

(CercleFinance.com) - While maintaining its 'neutral' rating on Best Buy shares, Wedbush has raised its target price for them from $85 to $95, after slightly increasing its estimates, and based on a multiple of 14x the $6.
98 2025 EPS estimate.

Reviewing the consumer electronics chain's Q2 publication, the broker notes that it slightly exceeded expectations in terms of sales, while easily beating them in terms of profits.

The broker nevertheless justifies its neutral rating on Best Buy shares by a valuation close to the upper end of its historical ranges, as well as sales that remain under pressure in most of its product categories.


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