BBY Price Prediction Next Week
Technical Analysis
BBY has shown a strong upward momentum over the past week, with the stock rising from $70.23 to $89.71, representing a significant 27.7% increase. The stock is currently trading above both its short-term and medium-term moving averages, indicating bullish momentum.
News Sentiment Analysis Recent news indicates BBY has received positive analyst coverage. The company maintains a "Moderate Buy" consensus rating based on 11 "Strong Buy" and 11 "Hold" ratings. JPMorgan's Street-high price target of $117 suggests a potential 30.4% upside from current levels.
Best Buy's digital transformation efforts and AI-powered initiatives are showing promising results. The company's online revenues now account for 31% of domestic revenues, with 45% of digital revenues being picked up in stores, demonstrating successful omnichannel integration.
Price Forecast for Next Week
Based on technical indicators and news sentiment:
Target Prices:
- Resistance: $92.50 (Previous support level from Q3 2024)
- Support: $87.00 (Recent consolidation level)
Forecast Scenarios:
- Bullish Case (60% probability): $93-95 range
- Base Case (30% probability): $88-92 range
- Bearish Case (10% probability): $85-87 range
Trading Recommendation SELL at current levels ($89.71). Rationale:
- Stock is approaching overbought territory after recent sharp rally
- Q4 earnings release on March 6 could introduce volatility
- Analysts expect 12.1% YoY decline in Q4 EPS to $2.39
- Company previously lowered FY2025 guidance with expected comparable sales decline of 2.5-3.5%
Suggested re-entry points: $85-86 range after potential pullback.
BBY Similar Chart Price Prediction
The price of BBY is predicted to go up 2.16%, based on the high correlation periods with HASI. The similarity of these two price pattern on the periods is 96.65%.
BBY
HASI
Up: 2.16%Similarity: 96.65%
BBY Revenue Forecast
BBY EPS Forecast
BBY FAQs
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BBY VS S&P500
With digital sales volumes projected to equilibrate at roughly double pre-COVID-19 levels, Best Buy should better compete for online volumes that it historically ceded to online competitors.
Improving route densities should strengthen the margin profile of small parcel e-commerce sales, with 35% of store
BBY Analyst's Forecast
Simeon Gutman
Morgan Stanley
Hold
2025-01-21
Price Target
$105 → $100
Upside
+18.43%
Morgan Stanley analyst Simeon Gutman lowered the firm's price target on Best Buy to $100 from $105 and keeps an Equal Weight rating on the shares. In the hardline and broadline retail space, the analyst's preferred stocks for 2025 are companies leveraging their scale to invest in next-generation retail tech that have revenue upside, are market share leaders within their sub segments, or are executing into a cyclical inflection in their category, the analyst tells investors in a 2025 outlook note for the group.
Seth Sigman
Barclays
Hold
2025-01-09
Price Target
$95 → $89
Upside
+6.88%
Steven Forbes
Guggenheim
Strong Buy
2024-11-29
Price Target
$110 → $105
Upside
+16.67%
