Analysts Upgrade Best Buy
On the day after Circuit City went out of business for good, at least two analysts proclaimed it good news for rival Best Buy.
According to the Minneapolis/St. Paul Business Journal, both Jack Murphy of William Blair & Co. and Bradley Thomas of KeyBanc Capital Markets upgraded Best Buy's stock to "outperform," on the news that Circuit City was closing its last stores.
The news caused Best Buy's stock to rise in early-morning trading Monday.