Barclays Believes Best Buy Co (NYSE: BBY) Still Has Room to Grow

By Carrie Williams

Barclays analyst Matthew McClintock maintained a Buy rating on Best Buy Co (NYSE: BBY) yesterday and set a price target of $65. The company’s shares opened today at $60.41, close to its 52-week high of $61.95.

According to, McClintock is a 3-star analyst with an average return of 4.0% and a 49.5% success rate. McClintock covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Container Store Group.

Currently, the analyst consensus on Best Buy Co is Moderate Buy and the average price target is $50.86, representing a -15.8% downside.

In a report released yesterday, Loop Capital Markets also reiterated a Buy rating on the stock with a $64 price target.

Best Buy Co’s market cap is currently $19.06B and has a P/E ratio of 15.99. The company has a book value ratio of 4.0466.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock.

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Best Buy Co., Inc. provides consumer electronics, home office products, entertainment products, appliances and related services. It operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The International segment is comprised of all operations outside the U.S. and its territories, which includes Canada, Europe, China, Mexico and Turkey. It also markets its products under the brand names: Best Buy, Audiovisions, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. The company was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.