Best Buy (BBY) Stock Forecast & Price Target

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$73.98

+0.63 (+0.86%)

(As of 01:03 PM 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

Hold
Based on 15 Analyst Ratings

Consensus Price Target

$84.00
13.54% Upside

High Forecast	$101.00
Average Forecast	$84.00
Low Forecast	$65.00

Type	Current Forecast 5/21/23 to 5/20/24	1 Month Ago 4/21/23 to 4/20/24	3 Months Ago 2/20/23 to 2/20/24	1 Year Ago 5/21/22 to 5/21/23
Consensus Rating	Hold	Hold	Moderate Buy	Hold
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	7 Buy rating(s)	7 Buy rating(s)	7 Buy rating(s)	8 Buy rating(s)
Hold	7 Hold rating(s)	7 Hold rating(s)	7 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	$84.00	$84.60	$77.43	$80.00
Forecasted Upside	13.54% Upside	9.98% Upside	7.05% Upside	1.97% Upside

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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	2.40	2.41	2.49
Consensus Rating	Hold	Hold	Hold
Predicted Upside	14.52% Upside	42.93% Upside	7.85% Upside
News Sentiment Rating	Positive 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
5/7/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sell ➝ Sell	$76.00 ➝ $67.00	-9.05%
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%
3/22/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Overweight	$89.00 ➝ $101.00	+25.56%
3/20/2024	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	Upgrade	Market Perform ➝ Outperform	$85.00 ➝ $95.00	+21.47%
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%
3/1/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$82.00 ➝ $85.00	+8.58%
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3/1/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$81.00 ➝ $90.00	+11.28%
3/1/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$75.00 ➝ $85.00	+5.13%
3/1/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$68.00 ➝ $87.00	+7.61%
3/1/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$69.00 ➝ $88.00	+8.84%
11/22/2023	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	In-Line ➝ In-Line	$75.00 ➝ $70.00	+3.14%
11/13/2023	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$80.00 ➝ $65.00	+1.94%
8/30/2023	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$86.00	+12.51%
8/30/2023	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$87.00 ➝ $90.00	+16.99%
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%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 01:20 PM ET.

BBY Frequently Asked Questions

What is Best Buy's stock forecast and purchase recommendation?: According to the research reports of 15 Wall Street equities research analysts, the average twelve-month stock price forecast for Best Buy is $84.00, with a high forecast of $101.00 and a low forecast of $65.00. The consensus rating for Best Buy stock is Hold based on the current 1 sell rating, 7 hold ratings and 7 buy ratings for BBY. Learn more on BBY's analyst rating history.
Do Wall Street analysts like Best Buy more than its competitors?: Analysts like Best Buy less than other "retail/wholesale" companies. The consensus rating score for Best Buy is 2.40 while the average consensus rating score for "retail/wholesale" companies is 2.41. Learn more on how BBY compares to other companies.
Is Best Buy being upgraded by Wall Street analysts?: Over the previous 90 days, Best Buy's stock had 2 upgrades by analysts.

Does Best Buy's stock price have much upside?: According to analysts, Best Buy's stock has a predicted upside of 9.62% based on their 12-month stock forecasts.
What analysts cover Best Buy?: Best Buy has been rated by research analysts at Barclays, Citigroup, Jefferies Financial Group, JPMorgan Chase & Co., Morgan Stanley, Telsey Advisory Group, The Goldman Sachs Group, Truist Financial, UBS Group, and Wedbush in the past 90 days.

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This page (NYSE:BBY) was last updated on 5/20/2024 by MarketBeat.com Staff

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Best Buy (BBY) Stock Forecast & Price Target

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

Consensus Rating

Consensus Price Target

BBY Analyst Recommendations By Month

BBY Price Targets by Month

Best Buy Stock vs. The Competition

Recent Analyst Forecasts and Stock Ratings

BBY Frequently Asked Questions

Stock Forecasts and Research Tools

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