Evercore ISI lowered the firm’s price target on Best Buy to $70 from $75 and keeps an In Line rating on the shares following Q3 results that “proved underwhelming to both bulls and bears alike.” Q4 comps are now expected to just be less negative, but 2024 commentary was “muted,” says the analyst, whose EPS estimate shifts down to $6 in calendar year 2024, below consensus’s $6.65 into the print.
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