Best Buy Co. Inc. "Highlights from Meeting with Management" (Neutral) Lasser

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Best Buy Co. Inc. "Highlights from Meeting with Management" (Neutral) Lasser

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.