Loop Capital 'very impressed' by Best Buy's Q4 results, calls stock undervalued.
Loop Capital analyst Anthony Chukumba says he's "very impressed "by Best Buy's (BBY) Q4 results and 2019 guidance, particularly given "widespread investor concerns" about slowing iPhone sales and the potential impact of Amazon.com (AMZN) offering more Apple (AAPL) products on its website. The analyst continues to believe Best Buy is "very well positioned" as the "last man standing" in terms of dedicated national consumer electronics retailers. Further, the stock is "substantially undervalued at current levels," Chukumba tells investors in a post-earnings research note. He reiterates a Buy rating on the shares with an $88 price target. The stock in morning trading is up 15%, or $9.13, to $69.39.
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|Date:||Feb 27, 2019|
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