Best Buy Co., Inc. (NYSE: BBY) is a multinational consumer electronics retailer selling computers, mobile phones, appliances, and home theater products through physical stores and online platforms.
Following the company’s fiscal Q2 results, Truist Securities analyst Scot Ciccarelli raised his price target for Best Buy Co., Inc. (NYSE: BBY) to $100 from $95. Based on a share price of $83.56, the target implies approximately 19.67% upside. Earlier in August, Ciccarelli upgraded the stock from Hold to Buy and raised the target from $81 to $95.
Best Buy reported fiscal Q2 2027 revenue of $9.78 billion, up 3.6% year over year. Enterprise comparable salesincreased 4.1%, substantially exceeding the company’s previous expectation of approximately 1% growth. Domestic online revenue totaled $3.00 billion, with comparable online sales rising 5.1%.
Adjusted diluted EPS increased 15% to $1.47, while the adjusted operating income rate improved to 4.3% from 3.9%. Results benefited partly from approximately $34 million in tariff refunds.
Following the strong quarter, Best Buy raised its fiscal 2027 revenue guidance to $42.3 billion–$42.8 billion and adjusted EPS guidance to $6.70–$6.90. Despite the improved outlook, the stock declined as investors considered the tariff refund’s contribution and potential pressure from rising component costs.
