J.P. Morgan Adjusts Best Buy Estimates

In a report released this morning, J.P. Morgan said that it is adjusting its estimates on shares of Best Buy Co., Inc. BBY. “Following 2Q earnings in September and the recent CPW 1H results, we are adjusting our estimates,” J.P. Morgan writes. “We are increasing our 3Q and 4Q EPS forecasts to $0.68 and $2.10 from $0.61 and $1.79, respectively. For 2012, we are increasing our EPS estimate to $3.96 from $3.30 previously.” Best Buy closed Friday at $44.75.