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Best Buy’s Target, Estimates Cut at UBS (BBY)

Electronics retailer Best Buy Co., Inc. ( BBY ) on Wednesday saw its price target and earnings estimates lowered by analysts at UBS.

The firm maintained its "Neutral" rating on BBY buy cut its price target to $26, suggesting a 12% upside to the stock's Tuesday closing price of $23.30.

UBS also lowered its earnings estimates for the company, citing uncertainty in the near term.

Best Buy shares rose 20 cents, or +0.9%, in premarket trading Wednesday.

The Bottom Line

Shares of Best Buy ( BBY ) have a 2.75% dividend yield, based on last night's closing stock price of $23.30. The stock has technical support in the $17-$21 price area. If the shares can firm up, we see overhead resistance around the $25-$28 price levels.

Best Buy Co., Inc. ( BBY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 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 Nasdaq, Inc.

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

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