Recent exceptional positive changes in investment behavior have benefitted Best Buy Co Inc (NYSE: BBY): the stock’s recent price rise disrupted its longer term downtrend, its longer term price trend turned up, and the stock rose on very heavy volume.
Best Buy Co Inc (NYSE: BBY) has benefited from slight positive changes in fundamentals: significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of D. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
BBY’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Best Buy has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Best Buy has a poor Appreciation Score of 24 but a neutral Power Rating of 54, resulting in the Negative Value Trend Rating.
Recent Price Action
Best Buy Co Inc (NYSE: BBY) stock enjoyed a large increase of 2.5% on 6/3/24. The stock closed at $86.94. Moreover, this advance was accompanied by exceptionally high trading volume at 323% of normal. The stock has performed in line with the market over the last nine months and has risen 24.9% during the last week.
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