Best Buy falls as D.A. Davidson downgrades stock to 'neutral'

Best Buy

08/09/2026 15:23

** Shares of electronics retailer Best Buy BBY.N down ~2% at $88.60 in morning trading
** D.A. Davidson downgrades stock to "neutral" from "buy"; maintains PT of $95
** Brokerage says fundamentals remain healthy, supported by improving TV and appliance demand and higher-margin membership and marketplace businesses
** Adds that the company's heavy dependence on holiday-quarter sales leaves little room for error, with softer consumer spending and leadership changes warranting caution
** Raises Q3 EPS estimate to $1.53 from $1.50, on a recently disclosed tariff refund, but views the benefit as largely one-time and not a major stock catalyst
** Three of 26 brokerages rate the stock "buy" or "higher", 21 "hold" and two "sell"; their median PT is $85 - data compiled by LSEG
** Including session's moves, stock has risen ~33% this year

(Reporting by Shania S Thomas in Bengaluru)
((shanias.thomas@thomsonreuters.com;))