Market Overview

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

Share:
Related BBY
HP Recalls 41,000 Batteries Due To Fire Risk
Best Buy Management Lunch: 3 Takeaways
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

DateFirmActionFromTo
Jun 2016Longbow ResearchInitiates Coverage onNeutral
Jun 2016Credit SuisseDowngradesOutperformNeutral
May 2016Deutsche BankDowngradesBuyHold

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!