Street View: Best Buy's sales rebound may lift stock despite concerns over one-time tariff refunds

Best Buy

28/08/2026 13:28

**  Electronics retailer Best Buy BBY.N raised its annual forecasts on Thursday after topping quarterly sales and profit estimates, but shares fell as the forecast raise was driven primarily by a $34 million tariff refund
** Median PT of 26 brokerages covering the stock is $85 - data compiled by LSEG

REPLACEMENT CYCLE BOOSTS APPLIANCE SALES
** Piper Sandler ("neutral", PT: $85) says Best Buy's sales rebound is broadening, with TVs and appliances turning positive after years of weakness, though expectations have risen following the stock's strong run
** D.A. Davidson ("buy", PT: $95) says demand for TVs, appliances and computers is being driven by innovation and replacement cycles, with those strengths outweighing concerns around tariff-related profit benefits
** KeyBanc ("sector weight") says Best Buy's strong quarter and higher outlook reflect improving demand, but tariff refunds, tougher PC comparisons and intense competition could weigh on future results
** Jefferies ("hold", PT: $84) says stronger appliance performance, emerging tech categories and growing memberships are supporting sales, but fading one-time benefits and pressure in PCs could limit further upside
     

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