Goldman Sachs has maintained its ‘Buy’ rating for Best Buy BBY. The company missed its estimates for the first quarter, but it is likely to post in-line results in the future. Its gross profits exceeded expectations even excluding one-time benefits. However, its expenses were disappointing, which drove forecasts down.
Its SG&A are controllable as the company has a track record of rebounding from expense misses. Goldman Sachs (GS) has rated Best Buy (BBY) as an ‘Outperform’ and has given it a price target of $46 down from their previous target of $47. During today's trading session, BBY has fallen 0.96% to $38.19.
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