Best Buy price target lowered to $89 from $95 at Wells Fargo

Wells Fargo lowered the firm’s price target on Best Buy (BBY) to $89 from $95 and keeps an Equal Weight rating on the shares. While Q4-to-date offers reason for near-term optimism, the company’s Q3 print fell short, the firm notes. Best Buy expects Q4 trends to slow, and Wells’ 2025 EPS notches lower as tariff/macro uncertainty looms.