Best Buy Downgraded to “Sell”
A Goldman Sachs analyst on Thursday reinstated a “sell” rating for Best Buy, citing risks in the electronics sector’s long-term outlook, according to the AP.
Analyst Matthew J. Fassler cited such risk factors as flat-panel TV “passing the sweet spot on the profit curve,” as well as competition and diminishing strength from tax rebate checks. He also assigned the company a price target of $42; itss stock is currently trading at $39.38, as of closing Thursday.
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