Standpoint Downgrades Best Buy From Buy To Hold (BBY)

Standpont Research has downgraded shares of Best Buy BBY from Buy to Hold. Since the firm's August 24th recommendation, BBY has surged 31% and outperformed the S&P 500 by 1,800 basis points. Standpoint analyst Ronnie Moas wrote, "the shares are now fairly valued at 14X earnings. Going forward we still see value here but feel the stock will struggle to beat the S&P from this level." During today's trading session, BBY shares have climbed 1.69% to $41.42.