Highlights

  • Jefferies trims Best Buy’s target price while maintaining a positive stance.
  • Analysts issue mixed ratings as several firms revise their price objectives.
  • Latest quarterly results show slight revenue improvement and EPS above estimates.

Jefferies Financial Group revised its target price for Best Buy(NYSE:BBY), lowering it from USD 95 to USD 94 in a research update released on Tuesday. The brokerage continues to assign a buy rating on the retailer’s shares. The revision comes amid varied analyst opinions recorded over recent months.

Other firms issued updated views as well. Bank of America reduced its target from USD 63 to USD 60 and assigned an underperform rating in late August. Argus maintained a hold stance in mid-September. Citigroup raised its target from USD 73 to USD 82 and issued a neutral rating earlier in November. JPMorgan increased its target range from USD 89 to USD 97 while keeping an overweight view. Wedbush reaffirmed a neutral rating with a USD 75 target in late November.

Current data shows eight analysts with buy, eleven with hold, and one with sell ratings. MarketBeat lists the consensus rating as Hold with an average target of USD 83.94.

Earnings Snapshot

Best Buy released its quarterly results on August 28. The company reported EPS of USD 1.28, slightly above the consensus estimate of USD 1.22. Revenue for the period reached USD 9.44 billion, compared with expectations of USD 9.23 billion.

Key financial notes:

  • Return on equity: 47.32%
  • Net margin: 1.87%
  • Revenue increased 1.6% year-over-year
  • Same period last year EPS: USD 1.34

The company reaffirmed FY 2026 guidance with an EPS range of 6.150 to 6.300. Analysts currently project full-year EPS of 6.18.

Business Overview

Best Buy Co., Inc. operates retail stores offering a wide technology product mix across the United States, Canada, and international markets. Its categories include:

  • Computing and mobile devices, including commissions from mobile carriers
  • Tablets, wearables, and networking equipment
  • Consumer electronics such as imaging devices, health products, audio accessories, and smart home equipment
  • Home theater items, including televisions, soundbars, and related accessories

The company continues to operate in a competitive retail landscape with shifting consumer preferences and evolving technology trends.