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Best Buy (BBY) Stock Forecast & Price Target

$85.50
-0.77 (-0.89%)
(As of 05:18 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

Consensus Price Target

$90.87
6.28% Upside
High Forecast$106.00
Average Forecast$90.87
Low Forecast$65.00
TypeCurrent Forecast
7/16/23 to 7/15/24
1 Month Ago
6/16/23 to 6/15/24
3 Months Ago
4/17/23 to 4/16/24
1 Year Ago
7/16/22 to 7/16/23
Consensus Rating
Moderate Buy
Moderate Buy
Hold
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
9 Buy rating(s)
8 Buy rating(s)
7 Buy rating(s)
10 Buy rating(s)
Hold
6 Hold rating(s)
7 Hold rating(s)
7 Hold rating(s)
6 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
1 Sell rating(s)
1 Sell rating(s)
Consensus Price Target$90.87$89.47$84.60$78.44
Forecasted Upside6.28% Upside12.91% Upside9.98% Upside2.57% 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.
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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.
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Best Buy Stock vs. The Competition

TypeBest BuyRetail/Wholesale CompaniesS&P 500
Consensus Rating Score
2.60
2.46
2.50
Consensus RatingModerate BuyHoldModerate Buy
Predicted Upside6.35% Upside54.29% Upside9.20% Upside
News Sentiment RatingPositive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/1/2024Truist Financial
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 Reiterated RatingHold ➝ Hold$86.00 ➝ $86.00+4.55%
6/17/2024UBS Group
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M. Lasser
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UpgradeNeutral ➝ Buy$85.00 ➝ $106.00+21.55%
6/7/2024Loop Capital
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 Boost TargetBuy ➝ Buy$93.00 ➝ $100.00+13.56%
6/3/2024Citigroup
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 UpgradeSell ➝ Buy$67.00 ➝ $100.00+17.90%
5/31/2024DA Davidson
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 Boost TargetBuy ➝ Buy$90.00 ➝ $95.00+15.97%
5/31/2024Evercore ISI
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 Boost TargetIn-Line ➝ In-Line$80.00 ➝ $90.00+11.15%
5/30/2024Telsey Advisory Group
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J. Feldman
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Reiterated RatingOutperform ➝ Outperform$95.00 ➝ $95.00+16.49%
5/28/2024Wedbush
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 Reiterated RatingNeutral ➝ Neutral$85.00 ➝ $85.00+18.88%
4/8/2024Jefferies Financial Group
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 Lower TargetBuy$95.00 ➝ $94.00+16.18%
3/22/2024JPMorgan Chase & Co.
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 UpgradeNeutral ➝ Overweight$89.00 ➝ $101.00+25.56%
3/1/2024Morgan Stanley
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 Boost TargetEqual Weight ➝ Equal Weight$80.00 ➝ $82.00+4.82%
3/1/2024The Goldman Sachs Group
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 Boost TargetBuy ➝ Buy$81.00 ➝ $90.00+11.28%
3/1/2024Barclays
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 Boost TargetEqual Weight ➝ Equal Weight$69.00 ➝ $88.00+8.84%
11/13/2023Wells Fargo & Company
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 Lower TargetEqual Weight ➝ Equal Weight$80.00 ➝ $65.00+1.94%
8/30/2023Guggenheim
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 Reiterated RatingBuy ➝ Buy$86.00+12.51%
5/25/2023Credit Suisse Group
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 Lower TargetBuy$85.00 ➝ $75.00+5.22%
5/11/202358.com
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 Reiterated RatingMaintains
1/12/2023BNP Paribas
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 DowngradeOutperform ➝ Neutral
12/14/2022Bank of America
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 DowngradeNeutral ➝ Underperform$80.00 ➝ $69.00-17.93%
11/24/2022Piper Sandler
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 Boost Target$91.00+10.45%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 05:48 PM ET.

BBY Forecast - Frequently Asked Questions

What is Best Buy's forecast for 2024?

According to the research reports of 15 Wall Street equities research analysts, the average twelve-month stock price forecast for Best Buy is $90.87, with a high forecast of $106.00 and a low forecast of $65.00.

Should I buy or sell Best Buy stock right now?

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 6 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" BBY shares.

Does Best Buy's stock price have much upside?

According to analysts, Best Buy's stock has a predicted upside of 13.60% based on their 12-month stock forecasts.

Has Best Buy been upgraded or downgraded by Wall Street analysts recently?

Over the previous 90 days, Best Buy's stock had 2 upgrades and 1 downgrade by analysts.

What analysts cover Best Buy?

Best Buy has been rated by research analysts at Citigroup, DA Davidson, Evercore ISI, Loop Capital, Telsey Advisory Group, Truist Financial, UBS Group, and Wedbush in the past 90 days.

Do Wall Street analysts like Best Buy more than its competitors?

Analysts like Best Buy more than other "retail/wholesale" companies. The consensus rating for Best Buy is Moderate Buy while the average consensus rating for "retail/wholesale" companies is Hold. Learn more on how BBY compares to other companies.


This page (NYSE:BBY) was last updated on 7/15/2024 by MarketBeat.com Staff

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