BUZZ-Street View: Best Buy poised for positive sales growth next year

Reuters · 08/30 12:11
BUZZ-Street View: Best Buy poised for positive sales growth year

** Electronics retailer Best Buy's BBY.N shares up marginally in premarket trading

** At least 12 brokerages raise PT on stock after company lifts annual profit forecast and posts better-than-expected Q2 results


INNOVATION AND UPGRADE CYCLE TO HOLD CO IN GOOD STEAD

** Guggenheim ("buy," PT: $110) views risk/reward profile of Best Buy's shares positively as consumer electronics industry appears poised for positive inflection in 2025

** BofA Global Research ("underperform," PT: $80) says promotions are expected to remain elevated through the rest of the year, which could limit gross margin growth

** Best Buy should have opportunities to expand into categories and services despite medium-term weakness in discretionary spending - BofA

** J.P.Morgan ("overweight," PT: $111) says broader innovation driving bigger lift to sales for BBY than just benefit from sales of Microsoft's Copilot+/ iPad contributions

** Wedbush ("," PT: $95) says BBY's tendency to take market share in innovation cycles positions it well for top-line growth in 2025


(Reporting by Juveria Tabassum in Bengaluru)

((Juveria.Tabassum@thomsonreuters.com))