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Best Buy Co., Inc. (NYSE:BBY) is included among the Top 12 Dividend Stocks to Buy According to Billionaire Cliff Asness.

On June 2, DA Davidson raised the firm’s price recommendation on Best Buy Co., Inc. (NYSE:BBY) to $90 from $78. It also reiterated a Buy rating on the stock after meeting with the company’s management team to discuss first-quarter results. According to analyst Michael Baker, several product categories are benefiting from both replacement and innovation cycles. These include computing and home theater, which DA Davidson estimates account for roughly 40% to 45% of Best Buy’s sales. The firm also sees strength in appliances, mobile phones, and emerging product categories. In a research note, Baker said these trends continue to support the broader consumer electronics retail space.

On May 29, Truist raised its price goal on Best Buy to $81 from $66. It maintained a Hold rating on the stock. The firm noted that Best Buy’s first-quarter comparable sales growth of 2% exceeded its 1% estimate. Analyst Scot Ciccarelli also pointed out that the company is approaching the anniversary of last year’s successful Switch 2 launch and sees additional opportunities for growth. In a research note, Ciccarelli said recent product introductions, including the launch of RGB TV technology, could provide further upside.

Best Buy Co., Inc. (NYSE:BBY) is a specialty consumer electronics retailer with Domestic and International operating segments.

While we acknowledge the potential of BBY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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