Best Buy Co. Inc. Highlights from Meeting with Management

Research evidence excerpt

Best Buy Co. Inc. Highlights from Meeting with Management

Global Research

18 June 2026ab

Best Buy Co. Inc. Equities

United StatesHighlights from Meeting with Management

Retailers, Broadline

12-month rating Neutral *

BBY struck a positive tone at its meeting with the sell-side.

We attended a sell-side meet-and-greet with Corie Barry (Chief Executive Officer), Jason 12m price target US$86.00

Bonfig (Senior EVP & Chief Customer, Product & Fulfillment Officer), Matt Bilunas

(Senior EVP & Chief Financial & Strategy Officer), Mollie O'Brien (Vice President, Investor

Price (18 Jun 2026) US$74.73

Relations), Jeff Haydock (Chief Communications & Public Affairs Officer) and Brad

Mossestad (Senior Director, Investor Relations). Overall, the meeting reinforced several RIC: BBY.N BBG: BBY US

elements of the bull case on the stock. BBY struck a positive and pragmatic tone on how

Trading data and key metrics

it's seeking to drive a business inflection while navigating a challenging backdrop. The

52-wk range US$84.00-55.52

team emphasized its key priorities and emphasized several tailwinds benefiting the

business, including its third-party marketplace, retail media business, omni-channel Market cap. US$15.7b

capabilities, and trends in newer & emerging categories. As BBY continues to lean into Shares o/s 210m (COM)

these opportunities and prudently invest in its business, it should be able to defend its Free float 81%

position in the consumer electronics industry. Avg. daily volume ('000) 1,319

Avg. daily value (m) US$87

As far as the stock, expectations have moved higher following the success that the Common s/h equity (01/27E) US$3.55b

company realized in 1Q and the indications from high-frequency data that the P/BV (01/27E) 4.1x

momentum has continued as of late.