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ISI Group Reiterates Neutral Rating on Best Buy

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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
Sep 2014BarclaysMaintainsOverweight
Aug 2014UBSMaintainsNeutral
Jul 2014CitigroupMaintainsBuy

View More Analyst Ratings for BBY
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Reiteration Analyst Ratings

 

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