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Actionable news in BBY: BEST BUY COMPANY Inc,

Best Buy's Major Investments Over Last Few Years 'Paying Off'

David Magee of SunTrust Robinson Humphrey believes the Q2 results reported by Best Buy Co Inc BBY 2.8% demonstrate once again that the major investments made by the company over the past several years are now paying off.

Magee reiterated a Buy rating on the company, while raising the price target from $39 to $45.

“BBY is gaining market share, in our opinion, at stable gross margins and with a lower expense structure,” the analyst pointed out.

Positive On H2

In addition, Magee believes there are several reasons to be positive about H2, including product introductions in gaming, mobile and virtual reality.

These, along with share gains in the appliance market, are expected to keep the momentum going for Best Buy.

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DateFirmActionFromTo
Aug 2016SunTrust Robinson HumphreyMaintainsBuy
Aug 2016Raymond JamesMaintainsBuy
Aug 2016CitigroupMaintainsNeutral

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