- The shares of Best Buy Co Inc (NYSE: BBY) have received a $108 price target from Truist. These are the details.
The shares of Best Buy Co Inc (NYSE: BBY) have received a $108 price target from Truist. And Truist analyst Scot Ciccarelli initiated coverage of Best Buy with a “Hold” rating.
Ciccarelli pointed out that the company’s sales surged during the pandemic as consumers bought electronic goods to help them work, attend school, and be entertained from home.
But the natural multi-year replacement cycle for these products will likely work against the company and result in a shorter duration growth cycle.
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