Best Buy Co Inc BBY shares were rising on Wednesday, after the company reported upbeat fourth-quarter sales.

The results came in amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Best Buy

Analyst Kate McShane reaffirmed a Buy rating while reducing the price target from $106 to $101.

Best Buy reported mostly better-than-expected fourth-quarter results, McShane said in a note. Comparable sales rose 0.5% year-on-year, beating consensus expectations of a decline of 1.3%, and it was the first time enterprise comp turned positive since the third quarter of 2021, she added.

The company appears to be well positioned to capitalize on "increased demand from replacement cycle and innovation driven purchases (even if prices were to go higher as a result of tariffs)," the analyst stated. "Additionally, the investments that the company is making in alternative revenue streams like Marketplace and Best Buy ads, will be incremental to margin and sales over time," she further wrote.

Telsey Advisory Group On Best Buy

Analyst Joseph Feldman reiterated an Outperform rating while cutting the price target from $110 to $100.

Best Buy reported earnings of $2.58 per share, exceeding consensus of $2.40 per share, driven mainly by higher-than-expected comps of 0.5%, Feldman said. This was the first positive comp since the third quarter of 2021 and reflects the effectiveness of the company's holiday promotions, the return of Doorbusters and the impact of product innovation and the replacement cycle, he added.

Best Buy faces "significant new risk" due to the Trump administration's new tariffs, as the company sources around 60% of its product from China and about 20% from Mexico, the analyst stated.

Check out other analyst stock ratings.

Wedbush On Best Buy

Analyst Seth Basham maintained a Neutral rating while slashing the price target from $90 to $83.

Best Buy reported comps of 0.5% and margins at 4.9%, Basham said. Although the company's margins contracted by seven basis points year-on-year, they came in higher than the consensus of 4.7%, he added.

Management guided 2025 sales between $41.4 billion and $42.2 billion, with comps ranging from flat to +2% and up to 10 store closures, the analyst stated. The company expected stronger growth in the second half of the year "due to natural upgrade and replacement cycles, innovation/product launch cycles and as Windows 10 support is slated to shut down," he further wrote.

Raymond James On Best Buy

Analyst Bobby Griffin reiterated an Outperform rating on the stock.

Best Buy's comps in the fourth quarter were driven by "growth in computing, tablets, and services, with laptop sales rising 10%," Griffin said. Gross margins expanded to 20.9%, beating expectations, and were "driven by stronger profitability in services, particularly from paid memberships and attached warranty sales," he added.

The company indicated "tailwinds from the upcoming Windows 10 end-of-support cycle in October and AI-driven computing innovations, both of which could help sustain demand for higher-end laptops in the back half of FY26," the analyst wrote.

BBY Price Action: Shares of Best Buy had risen by 1.37% to $76.23 at the time of publication on Wednesday.

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