Truist Cuts Best Buy Target to $73, Keeps Hold Rating After Spending Data Review

Truist analyst Scot Ciccarelli trimmed Best Buy's price target to $73 from $77 and kept a Hold rating, citing a revision of sales and earnings expectations based on fresh spending data and holiday checks. The company raised its full-year sales and profit outlook in November, driven by strong demand for electronics and gaming. Best Buy expects FY2026 comparable sales to increase by 0.5% to 1.2%.