Barclays Keeps a Buy Rating on Best Buy Co (BBY)

By Ryan Adsit

In a report released yesterday, Matthew McClintock from Barclays maintained a Buy rating on Best Buy Co (NYSE: BBY), with a price target of $90. The company’s shares closed yesterday at $77.57.

According to TipRanks.com, McClintock is a 4-star analyst with an average return of 7.6% and a 56.6% success rate. McClintock covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Dick’s Sporting Goods, and Advance Auto Parts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Best Buy Co with a $82.50 average price target, implying a 6.4% upside from current levels. In a report released yesterday, Loop Capital Markets also reiterated a Buy rating on the stock with a $88 price target.

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The company has a one-year high of $84.37 and a one-year low of $51.61. Currently, Best Buy Co has an average volume of 3.18M.

Based on the recent corporate insider activity of 94 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.