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Best Buy (NYSE:BBY) shares fell 2. 2% in premarket trading after DA Davidson downgraded the consumer electronics retailer to Neutral from Buy and set a $95 price target.
Best Buy (BBY) is seeing improving sales momentum amid factors such as continued replacement demand
Investing.com -- Jefferies downgraded Best Buy, a U.S. consumer electronics retailer to Hold from Buy, saying the market already reflects an optimistic outlook for second-quarter comparable sales while earnings upside beyond that could prove more limited amid softer consumer demand and rising cost pressures.
Best Buy’s fiscal first-quarter earnings beat Wall Street estimates.
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