Within the last quarter, Best Buy Co (NYSE:BBY) has observed the following analyst ratings:

In the last 3 months, 11 analysts have offered 12-month price targets for Best Buy Co. The company has an average price target of $121.09 with a high of $140.00 and a low of $86.00.

This current average represents a 4.06% increase from the previous average price target of $126.22.

What Are Analyst Ratings?

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Analysts may suggest actions like "buy", "sell", "hold", or similar verbage for each stock based on research compiled from the corresponding company. Analysts who suggest "buy" are telling traders to purchase the stock based on forecasted growth. On the flip side, analysts who suggest "sell" are telling traders to dump the stock because of a similarly forecasted decline. Analysts who suggest "hold" are telling investors that they see short-term or mid-term stagnation and to maintain their positions on the stock.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.