Hot Stocks to Buy: Best Buy Co Inc (BBY)
Best Buy Co Inc (NYSE:BBY) is benefiting from increased spending and shopper’s renewed interest in buying electronics that they can reach out and touch and try.
Last quarter, Best Buy knocked the cover off the ball with their earnings report, driving a 20% rally. Year-to-date, BBY stock is more than 40% higher.
With only 35% of the analysts covering Best Buy as a buy and 15% rating it a sell, we’re confident that the upgrades are coming, especially if the company strings another positive earnings report together on Aug. 29.
Expect to see the upgrades drive a price target of $68 over the next three to six months.