UPDATE: Deutsche Bank Cuts Target on Best Buy to $25

Deutsche Bank lowers its price target $2 to $25 on Best Buy BBY as lastest earnings beat was delivered through lower taxes and share repurchase. Rating is reiterated at Hold. Deutsche Bank says, "BBY reported 4Q11 results ahead of consensus, though this included benefits from a lower than expected tax rate and greater than expected share repurchases. Top line results were somewhat weaker than expected, though we note that domestic gross margins were in line with expectations. Cash flow generation remains strong, and buybacks offer some support, but until BBY can figure out a way to win back share without sacrificing profits, we have a Hold rating." BBY closed at $24.77 a share on Thursday.