Wells Fargo lowered the firm's price target on Best Buy to $60 from $70 and keeps an Equal Weight rating on the shares. Discretionary is out of favor, recent checks were soft and guiding for a second half of the year acceleration is treated as a punishable offense, the firm says. Nearly every company in Wells' Hardlines coverage is down year-to-date as stimulus hopes fade, oil prices spike and underlying trends weak.
