Telsey Advisory Highlights Best Buy’s (BBY) Strength in Consumer Electronics Market

Best Buy Co., Inc. (NYSE:BBY) is included among the 15 Dividend Stocks Paying 4%+ Yield in 2025.

On November 26, Telsey Advisory raised its price target on Best Buy Co., Inc. (NYSE:BBY) to $95 from $90, while keeping an Outperform rating on the stock. The firm appreciated the company’s execution and its growing market share in the consumer electronics space. It also expects Best Buy to come up with new initiatives and product innovations, which would help drive future earnings growth.

Best Buy Co., Inc. (NYSE:BBY)’s recent quarterly earnings were a positive reassurance for shareholders, as the company not only reported strong numbers but also a promising consumer behavior. Its comparable sales grew by 2.7%, driven by strong results across computing, gaming, and mobile phones. The company’s overall revenue came in at $9.6 billion, up from $9.4 billion in the same period last year. Its EPS of $1.40 also surpassed analysts’ expectations of $1.31.

CFO Matthew Bilunas foresees this ongoing growth in computing and mobile phones to be continuous and expects that it will extend into Q4 and next year as well.

On November 25, Best Buy Co., Inc. (NYSE:BBY) also announced a quarterly dividend of $0.95 per share, which was similar to its previous dividend. The company, however, has increased its payouts for 12 consecutive years.

Best Buy Co., Inc. (NYSE:BBY) is a Minnesota-based multinational consumer electronics retailer that offers a wide range of services and products to its customers.

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Disclosure: None.