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UBS reiterates a Neutral rating on shares of Best Buy (BBY -0.9%) while hiking its price target...
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Wednesday, March 28, 2012, 12:00 PM ETUBS reiterates a Neutral rating on shares of Best Buy (BBY -0.9%) while hiking its price target to $27 from $25, writing the retailer must get more aggressive in its restructuring efforts to boost profit. BBY plans to cut its big-box square footage by 10%, but it should double that amount and boost store rep counts to 3.6/1,000 sq. ft. from a current 3.1, which would lift annual EPS $1.
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