Market Overview

ISI Group Reiterates Neutral Rating on Best Buy

Share:
Related BBY
Trim Tabs Float Shrink ETF Is Reborn
Technical Alert: Best Buy Puts In Possible Double Top
'Unicorn' Nutanix Aims To Keep IPO Market On Stronger Track (Investor's Business Daily)

In a report published Friday, ISI Group reiterated its Neutral rating on Best Buy Co. (NYSE: BBY).

ISI Group noted, “BBY reported a better than expected flat Domestic holiday comp. FCF will come in around $400m less than expected driven by payables. Despite the reduction in FCF guidance (due to timing and mix of product sold, not any changing of terms), these holiday sales are better than we expected. We estimate that traffic improved from -4% in 3Q by approx 150-200bps and most of the improvement in comps came from ticket gains (category mix driven). As a reminder, the Nov/Dec 9 week period typically accounts for over 75% of 4Q (ending January) sales.”

Best Buy Co. closed on Thursday at $12.21.

Latest Ratings for BBY

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

View More Analyst Ratings for BBY
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Reiteration Analyst Ratings

 

Related Articles (BBY)

View Comments and Join the Discussion!