Market Overview

Goldman Sachs Abandons Its Conviction Buy On Best Buy

Share:

Best Buy Co Inc (NYSE: BBY) shares are trading lower by $1.28 at $29.48in Friday's session. Before the open, Goldman Sachs downgraded the issue from Conviction Buy all the way Neutral, but strangely raised its price target from $32 to $33.

The issue, which had just recovered from its beating following poor post holiday comps, had rallied from its January 15 low ($25.31 to $30.91 on Thursday) is now back under $30.

After bottoming at $29.35 off the open, it rallied but came nowhere Thursday's closing price ($30.75), only reaching $30.27. Since making that high, it has been drifting back toward the lows for the day.

Latest Ratings for BBY

DateFirmActionFromTo
Dec 2020Goldman SachsDowngradesNeutralSell
Nov 2020Credit SuisseMaintainsNeutral
Nov 2020B of A SecuritiesMaintainsNeutral

View More Analyst Ratings for BBY
View the Latest Analyst Ratings

 

Related Articles (BBY)

View Comments and Join the Discussion!

Posted-In: Analyst Color News Downgrades Technicals Intraday Update Analyst Ratings Movers Trading Ideas

Latest Ratings

StockFirmActionPT
MRTXHC Wainwright & Co.Maintains257.0
NVDATruist SecuritiesMaintains672.0
NVDASusquehannaMaintains625.0
BLKBMO CapitalMaintains715.0
BLKDeutsche BankMaintains838.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com