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  • Best Buy (BBY) No Longer A Buy After Jefferies Upgrades 0 comments
    Mar 9, 2013 11:12 AM | about stocks: BBY

    Best Buy Co., Inc. ​ rose almost 10% after investment firm Jefferies announced an upgrade.

    We previously discussed concerns over whether Best Buy might end up like Circuit City, those concerns still exist. What's more, we previously had a $18.20 buyout fair value, which was assuming a buyout would take place. The stock now trades $0.50 above that.

    Jefferies upped its rating to "buy", however, the firm's analyst also notes that it doesn't have all "the information we would like to understand the reinvention of Best Buy". The firm also gives seven reasons for expansion...

    ​1. new management

    2. growth of both physical and online businesses

    3. cost cutting opportunities

    4. significant upside to EPS

    5. large investments have been made for multi-channel experience

    6. potential sale of operations in Europe and China could bring in $600-900 million in market capitalization

    7. opportunities to expand.

    more to come on these...we don't see any of them being enough to warrant a buy.

    read more at stockpucker...

    Stocks: BBY
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