Best Buy price target raised to $117 from $111 at JPMorgan
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JPMorgan analyst Christopher Horvers raised the firm’s price target on Best Buy (BBY) to $117 from $111 and keeps an Overweight rating on the shares ahead of the Q3 report. The firm is maintaining above-Street Q3 estimates “with a comp miss generally expected.” JPMorgan continues to believe Best Buy is at the “very start” of the replacement cycle for most of its products.
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