Shares of Best Buy Co Inc BBY experienced some volatility at the beginning of 2016. However, the trend (especially since late January) has pointed upwards. Year-to-date, the stock has gained almost 7 percent, comfortably outperforming major U.S. stock indexes like the S&P 500, which only posted returns of 0.83 percent.
Related link: Here's How Crowdsourced Ratings Can Beat The Market
Despite the recent run-up, the Vetr crowd seems to believe there is still upside left. Vetr raters have established an average price target of $35.52 per share, which implies an upside potential of more than 8 percent from current valuations.
In this context, top raters at the Vetr community have decided to upgrade the stock from 4.0 Stars to 4.5 Stars – out of a possible 5.0 Stars. 65 percent of the crowd’s ratings are bullish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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