Goldman Sachs Downgrades Best Buy to Sell, Cuts Price Target to $59
Goldman Sachs downgraded Best Buy (BBY) to Sell from Buy and reduced its price target to $59 from $76, citing risks to sales volume and pricing due to rising memory costs and margin pressures. The firm also highlighted challenges in growing Best Buy's appliance and consumer electronics categories.
Topics: analyst downgrade Best Buy Goldman Sachs price target stock analysis