Best Buy price target lowered to $75 from $80 at BofA

BofA analyst Robert Ohmes lowered the firm’s price target on Best Buy (BBY) to $75 from $80 and keeps an Underperform rating on the shares. Following the company’s Q4 report, the firm lowered its FY26 EPS estimate to $6.25 from $6.50, noting its forecast is at the lower end of the guidance range of $6.20-$6.60, which does not include any impact from tariffs. The firm models Q1 comps declining 0.5% given a more tepid consumer and less prominent sales events/campaigns compared to later in the year, the analyst noted.