Piper Jaffray Encouraged By New BBY Buy Back Program

In a report released this morning, Piper Jaffray said that it is encouraged by Best Buy Co., Inc.'s

new Buy Back Program that was launched in a commercial during yesterday's Super Bowl. “The purpose of the program is to ‘future-proof' technology purchases through BBY's promise to repurchase certain technology at set prices over a defined time period,” Piper Jaffray writes. “We believe that this program will help further ensure repeat purchases and customer loyalty and allow BBY to capitalize on higher margin early adopter sales.” Best Buy Co. closed Friday at $35.24.