Best Buy (BBY) Stock Forecast & Price Target

$86.77 -0.25 (-0.29%)

(As of 11/20/2024 ET)

Best Buy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 18 Analyst Ratings

Sell
1

Hold
7

Buy
10

Based on 18 Wall Street analysts who have issued ratings for Best Buy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 18 analysts, 1 has given a sell rating, 7 have given a hold rating, 9 have given a buy rating, and 1 has given a strong buy rating for BBY.

Consensus Price Target

$103.35
19.11% Upside

According to the 18 analysts' twelve-month price targets for Best Buy, the average price target is $103.35. The highest price target for BBY is $123.00, while the lowest price target for BBY is $80.00. The average price target represents a forecasted upside of 19.11% from the current price of $86.77.

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BBY Analyst Ratings Over Time

Type	Current Forecast 11/22/23 to 11/21/24	1 Month Ago 10/23/23 to 10/22/24	3 Months Ago 8/24/23 to 8/23/24	1 Year Ago 11/22/22 to 11/22/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	9 Buy rating(s)	9 Buy rating(s)	9 Buy rating(s)	6 Buy rating(s)
Hold	7 Hold rating(s)	7 Hold rating(s)	6 Hold rating(s)	8 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$103.35	$103.71	$90.87	$76.67
Forecasted Upside	19.11% Upside	10.58% Upside	3.08% Upside	12.70% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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BBY Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

BBY Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Best Buy Stock vs. The Competition

Type	Best Buy	Retail/Wholesale Companies	S&P 500
Consensus Rating Score	2.56	2.51	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	19.11% Upside	30.48% Upside	9.82% Upside
News Sentiment Rating	Very Positive News See Recent BBY News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/8/2024	Citigroup 3 of 5 stars		Lower Target	Buy ➝ Buy	$115.00 ➝ $109.00	+22.97%
10/15/2024	DA Davidson 3 of 5 stars		Reiterated Rating	Buy ➝ Buy	$117.00 ➝ $117.00	+18.19%
9/23/2024	Melius Research 0 of 5 stars	K. Short Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Hold	$100.00	+2.33%
9/3/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$95.00 ➝ $116.00	+15.08%
8/30/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$80.00 ➝ $95.00	-4.76%
8/30/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$101.00 ➝ $111.00	+12.05%
Get the Latest News and Ratings for BBY and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Best Buy and its competitors with MarketBeat's FREE daily newsletter.
8/30/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$85.00 ➝ $95.00	-4.22%
8/30/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$81.00 ➝ $95.00	-4.31%
8/30/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Overweight ➝ Overweight	$100.00 ➝ $114.00	+14.58%
8/30/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Lasser Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$106.00 ➝ $123.00	+23.63%
8/30/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	In-Line ➝ In-Line	$90.00 ➝ $94.00	-6.03%
8/30/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$86.00 ➝ $107.00	+6.97%
8/30/2024	Telsey Advisory Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Feldman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$95.00 ➝ $115.00	+14.97%
8/30/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform ➝ Underperform	$70.00 ➝ $80.00	-20.02%
8/30/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$100.00 ➝ $110.00	+9.97%
8/29/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	C. Bottiglieri Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
4/8/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	$95.00 ➝ $94.00	+16.18%
3/1/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$80.00 ➝ $82.00	+4.82%
8/30/2023	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$86.00	+12.51%
5/25/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	$85.00 ➝ $75.00	+5.22%
5/11/2023	58.com Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 03:41 AM ET.

BBY Forecast - Frequently Asked Questions

: According to the research reports of 18 Wall Street equities research analysts, the average twelve-month stock price forecast for Best Buy is $103.35, with a high forecast of $123.00 and a low forecast of $80.00.
: 18 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There is currently 1 sell rating, 7 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" BBY shares.
: According to analysts, Best Buy's stock has a predicted upside of 19.11% based on their 12-month stock forecasts.
: Over the previous 90 days, Best Buy's stock had 1 upgrade by analysts.
: Best Buy has been rated by research analysts at Bank of America, Barclays, BNP Paribas, Citigroup, DA Davidson, Evercore ISI, JPMorgan Chase & Co., Loop Capital, Melius Research, Piper Sandler, Telsey Advisory Group, The Goldman Sachs Group, Truist Financial, UBS Group, Wedbush, and Wells Fargo & Company in the past 90 days.
: Analysts like Best Buy more than other "retail/wholesale" companies. The consensus rating score for Best Buy is 2.56 while the average consensus rating score for "retail/wholesale" companies is 2.51. Learn more on how BBY compares to other companies.

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This page (NYSE:BBY) was last updated on 11/21/2024 by MarketBeat.com Staff

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Best Buy (BBY) Stock Forecast & Price Target