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Bank of America Downgrades Best Buy (BBY)
12/10/2012 9:49:00 AM
Bank of America announced on Monday that they have downgraded electronics retailer, Best Buy Co., Inc.( BBY ).
The firm, which did not have a previous rating on the company, reported that they have downgraded BBY to a "Underperform," and have given the company a $9 price target. This price target suggests a 30% decrease from the stock's current price of $11.77.
Best Buy shares were down 25 cents, or -2.09% during Monday morning trading.
The Bottom Line
Best Buy Co., Inc.( BBY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.