UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Best Buy Co. on Q1 Check Point

In a report published Thursday, Jefferies analyst Daniel Binder reiterated a Buy rating on Best Buy Co.

, and raised the price target from $24.00 to $30.00. In the report, Binder noted, “The environment has been challenging, particularly with the weather swing y-y, tough comparisons and noise around tax refund delays and hikes. We could see upper end of more conservative plans for PETM and DLTR. We may see some downside to our comp estimates for SPLS and KSS. We think business is close to our estimates for BBY, HD (recently revised up), LOW, and WMT.” Best Buy Co. closed on Wednesday at $23.38.