S&P raises its outlook on Best Buy, says upgrade contingent on higher profits

|About: Best Buy Co. (BBY)|By:, SA News Editor

S&P affirms Best Buy (BBY) at BB and raises its outlook on the company to Stable from Negative.

"Downside risk has moderated," the ratings agency says, adding that "sales trends should improve modestly" going forward.

In a fine example of stating the obvious, S&P says it would be inclined to raise its rating on the company if BBY grows sales and profits "meaningfully and sustainably." (full note)