Stifel Nicolaus Says Deal for Best Buy Won't Get Done Over Next Two Months
Stifel Nicolaus' David Schick believes a check from Richard Schulze for Best Buy (NYSE: BBY) will not "get written" over the next couple months. Rumors this morning suggested Schulze may be ready to do a deal for the electronics retailer at about $20/share.
Schick said the amount of "significant" moving parts related to new initiatives, a weak product cycle and general Q4 dependency will weigh on the timing of the decision. Schick noted Best Buy CEO Hubert Joly seemed "fairly ambivalent" at the company's Analyst Day last week.
Latest Ratings for BBY
|Feb 2017||Bernstein||Initiates Coverage On||Underperform|
|Dec 2016||Loop Capital||Initiates Coverage On||Buy|
|Nov 2016||Bank of America||Upgrades||Underperform||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.