#3 - Best Buy (NYSE:BBY)
If this was a presentation about stocks to buy right now, I’d stay away from Best Buy (NYSE:BBY). But we’re talking about stocks to hold for the long haul. That changes the conversation about BBY stock. This is a company that has successfully made the transformation from a destination brick-and-mortar store to an omnichannel giant that is a worthy competitor of Amazon (NASDAQ:AMZN).
In the early part of 2022, Best Buy has said margins will be under pressure which suggests they don’t believe they will successfully pass along any price increases to its end consumer. And like many companies, they are not immune from supply chain disruptions.
But at this point, investors can make the case that Best Buy is oversold. And analysts seem to agree, giving BBY stock a consensus price target of $133.92. That gives the stock a 34% upside in addition to a dividend that the company has increased for 18 consecutive years.
About Best Buy
Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.
Read More - Current Price
- $73.34
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $84.00 (14.5% Upside)
