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Best Buy’s Estimates Lowered at Morgan Stanley on Growth Concerns (BBY)

By Dividend.com,  July 20, 2012, 08:53:46 AM EDT

Electronics retailer Best Buy Co., Inc. ( BBY ) on Friday caught some tepid commentary from anlaysts at Morgan Stanley.

The firm maintained its "Equal-weight" rating on BBY but cut its earnings estimates through 2013, citing strong industry headwinds. Best Buy, along with other "big box" retailers, has struggled amid a wave of online competition, price-conscious consumers, and an overall weak economy.

Best Buy shares were unchanged in premarket trading Friday.

The Bottom Line
Shares of Best Buy ( BBY ) have a 3.62% dividend yield, based on last night's closing stock price of $18.76. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $22 price level.

Best Buy Co., Inc. ( BBY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: BBY



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