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UPDATE: Piper Jaffray Lowers PT on Best Buy to $39 (BBY)
Friday, March 25, 2011 - 9:03am | 95Piper Jaffray is out with its report today on Best Buy (NYSE: BBY), lowering its PT from $46 to $39. In a note to clients, Piper Jaffray writes, "Yesterday morning, BBY reported EPS that topped PJC and consensus expectations; however F12 EPS guidance of $3.30 to $3.55 was less than current...
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Piper Jaffray Maintains Underweight on GameStop (GME)
Friday, March 25, 2011 - 8:59am | 137Piper Jaffray is out with its report today on GameStop (NYSE: GME), maintaining Underweight. In a note to clients, Piper Jaffray writes, "GameStop reported January quarter financial results in-line with expectations. The company guided FY11 Net Income flat to FY10 - optimistic in our view....
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In-Depth Analysis: Best Buy (BBY, AMZN, WMT, BKS, BGP)
Friday, March 25, 2011 - 8:59am | 810Best Buy (NYSE: BBY) reported fourth quarter and full year earnings yesterday and failed to meet analysts' expectations. Best Buy reported revenue of $16.26 billion in the fourth quarter compared to $16.55 billion in the same period a year ago, or a decrease of 1.8%. Net income decreased by 16.4%...
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Deutsche Bank Reports Positives And Negatives On Best Buy
Friday, March 25, 2011 - 8:35am | 116According to Deutsche Bank, Best Buy (NYSE: BBY) is seeing some positives and some negatives. Deutsche Bank reported that 4Q11 results were about as expected at $1.98 versus consensus of $1.85, but most of the upside from a lower tax rate. “Comps were down 5.5% domestically, again about in line...
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Benzinga's Top Downgrades (SAI, ADTN, RIMM, BBY)
Friday, March 25, 2011 - 8:15am | 138SAIC Inc (NYSE: SAI) was downgraded by Credit Suisse from "outperform" to "neutral." SAI's shares closed at $17.04 yesterday. SAI's PEG ratio is 1.40. Morgan Keegan downgraded ADTRAN Inc (NASDAQ: ADTN) from “outperform” to “market perform.” ADTN's stock closed at $42.51 yesterday. ADTRAN's...
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UPDATE: Citi Color On BBY Downgrade, PT Decrease
Friday, March 25, 2011 - 8:01am | 145Citi, which downgraded shares of Best Buy (NYSE: BBY) and lowered its PT, is providing some color on the stock. Citi writes, “Despite the stock's pull back over the last few weeks, we are downgrading because we see further downside risk from here based on 1) Likely further multiple contraction...
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Piper Jaffray Lowers PT On Best Buy To $39
Friday, March 25, 2011 - 7:51am | 27Piper Jaffray has lowered the price target on Best Buy (NYSE: BBY) from $46 to $39 and maintains its Overweight rating.
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Oppenheimer Reports GameStop Sales Stay Solid
Friday, March 25, 2011 - 7:51am | 137According to Oppenheimer, GameStop (NYSE: GME) sales stay solid. Oppenheimer reported that it looks favorably upon the better-than-expected Q4 (Jan.) results and upbeat initial FY11 (Jan. 2012) guidance that Gamestop reported today. “Recent trends suggest that GME continues to capitalize upon...
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Sterne Agee Has Buy On GameStop Corp. (GME)
Friday, March 25, 2011 - 7:32am | 183Sterne Agee has a Buy rating and a $26 price target on shares of GameStop Corp. (NYSE: GME). In a note to clients, Sterne Agee writes, "GME reported in-line 4Q results and provided stronger than expected 2011 guidance. The earnings release and conference call appropriately focused on the company's...
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Wedbush Reiterates GME's Outperform Rating
Friday, March 25, 2011 - 7:31am | 76Wedbush has issued a report maintaining Gamestop's (NYSE: GME) Outperform rating. According to Wedbush, "Maintaining our OUTPERFORM rating and our 12-month price target of $26, which reflects a multiple of 8.5x our FY:11 EPS estimate of $3.02. Our multiple is below the company's historical average...
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JP Morgan Lowers PT On Best Buy To $35
Friday, March 25, 2011 - 7:29am | 27JP Morgan has lowered the price target on Best Buy (NYSE: BBY) from $37 to $35 and maintains its Neutral rating.
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Goldman Sachs' Take On BBY Options
Friday, March 25, 2011 - 7:15am | 115Goldman Sachs is recommending closing short June $33 Call positions in Best Buy (NYSE: BBY) at $0.71 (ask) (2.4%, stock $29.98). “We recommended selling these options at $1.26 (4.0%, stock $31.42) on March 23, as in our view, the implied volatility for the calls was elevated into earnings,”...
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Deutsche Bank, Citi Cut Best Buy Forecasts (BBY)
Friday, March 25, 2011 - 7:14am | 44Deutsche Bank lowered Best Buy's (NYSE: BBY) price target to $37, alongside Citi group, which downgraded the stock to Sell. Deutsche Bank has lowered the price target on Best Buy from $42 to $37, but maintains its Buy rating.
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Citigroup Downgrades Best Buy To Sell, PT To $27
Friday, March 25, 2011 - 7:12am | 27Citigroup has downgraded Best Buy (NYSE: BBY) from Hold to Sell and has lowered the price target from $36 to $27.
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Deutsche Bank Lowers PT On Best Buy to $37
Friday, March 25, 2011 - 7:04am | 27Deutsche Bank has lowered the price target on Best Buy (NYSE: BBY) from $42 to $37 and maintains its Buy rating.