Analyst: 'Monopoly' Makes Best Buy a Top Bet
Despite all the trouble in the retail and technology sectors, one analyst is especially bullish on Best Buy- to the point where he has named the CE retail giant one of his top ten picks for 2009.
According to the Associated Press, analyst Thomas Bradley of KeyBanc Capital Markets has named Best Buy to his top picks list because following Circuit City's bankruptcy it now enjoys a "virtual national monopoly" as a CE-focused big box store. Bradley also wrote that Best Buy is well-positioned to benefit once economic conditions improve.
In addition, Bradley praised Best Buy's stock price and overall financial position, especially its posting of positive same-store sales in the second quarter.