Best Buy price target lowered to $110 from $115 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Best Buy (BBY) to $110 from $115 and keeps an Outperform rating on the shares. While the company’s Q3 results were disappointing, the firm believes Best Buy’s strategy, along with its strong execution, should position the company well once the industry stabilizes and returns to growth, the analyst tells investors.