Market Overview

UPDATE: ISI Group Maintains Neutral on Best Buy after Static International Comps

Related BBY
10 Defensive Stock Ideas From Bank Of America
Why Best Buy Could Move Lower
The Vetr community has upgraded $BBY to 3.5-Stars. (Vetr)

In a report published Friday, ISI Group reiterated Best Buy (NYSE: BBY) at Neutral on weakness in consumer electronics and entertainment.

ISI Group reported that, “Domestic EBIT margins, down just 150bp to 5.9% drove the surprise vs our down 240bp estimate. Charges, mostly non-cash, of over $1bn were taken to write down Chinese and Canadian goodwill, plus Domestic restructuring actions. As no guidance was provided, the call at 9AM eastern will be key for insight into strategic and restructuring actions likely to be executed going forward."

Best Buy shares closed at $16.41 on Thursday.

Latest Ratings for BBY

Aug 2015Raymond JamesUpgradesMarket PerformStrong Buy
Aug 2015Morgan StanleyMaintainsOverweight
Aug 2015JefferiesMaintainsBuy

View More Analyst Ratings for BBY
View the Latest Analyst Ratings

Posted-In: ISIAnalyst Color Reiteration Analyst Ratings


Related Articles (BBY)

View Comments and Join the Discussion!

Get Benzinga's Newsletters