Street View: Best Buy eyes innovation amid industry revival
** Electronic retailer Best Buy's BBY.N shares fell 9% on Tuesday after co cut annual forecasts expecting tepid holiday business marked by discounts
** At least eight brokerages cut PT; median PT of 29 analysts is $100
BUMPY BUT TRENDS ARE IMPROVING
** J.P. Morgan ("overweight", PT: $115) notes acceleration in computing proves category's innovation cycle is in full swing, but believes tariffs will be a negotiating tool, and will remain an overhang until more clarity is gained
** D.A. Davidson ("buy") says despite weakness in multiple areas, BBY's strong Q4 start, favorable trend cycle in laptops and differentiated membership model are positives
** Truist Securities ("hold", PT: $95) notes AI could provide an incremental lever, but natural demand trends have yet to inflect
** Telsey Advisory Group ("outperform", PT: $110) believes BBY's strategy and strong execution should position it well once industry stabilizes, as product replacement cycle and innovation unfold
Reporting by Neil J Kanatt and Aamir Sohail in Bengaluru
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