Analyst: Best Buy Stock Boasts Solid Support

UBS upgraded Best Buy Co Inc (NYSE:BBY) to "buy" from "neutral," with a price-target hike to $106 from $85. The analyst said shares of the electronics retailer are set to benefit  from new products and an appliance upgrade cycle. In response, Best Buy stock boasts a 3.7% premarket lead. The security is set to open at $90, its highest level since February 2023. While it recently broke out of a channel of lower lows on the charts, the stock is coming off of its ninth weekly loss in 11. Still, BBY boasts an 11 ...