Better Buy Best Buy Now, Vetr Crowd Says

Shares of Best Buy Co Inc BBY, which are up almost 4 percent year-to-date, have been suffering recently, losing 5.7 percent over the past three months. Over the past five days, the stock tumbled more than 1.6 percent. Following said decline, the Vetr crowd seems to believe some upside potential has been unlocked, as evidenced by their average stock price target of $33.39, which implies an upside potential of approximately 5.4 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect this upside potential, the Vetr community decided upgrade its rating on shares of Best Buy on Tuesday, from 3.0 Stars (Hold) to 3.5 Stars (Buy) - out of a possible 5.0 Stars rating.

Finally, it should be noted that 62 percent of the crowd’s ratings are bullish, in accordance with the rating. Check out a chart illustrating the distribution of the ratings here.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.