Best Buy (BBY -3.9%) shares slide after Piper Jaffray cuts its rating to Neutral and lowers its...

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

Best Buy (BBY -3.9%) shares slide after Piper Jaffray cuts its rating to Neutral and lowers its price target to $26 from $39. Valuation is intriguing, Jaffray says, but shares will remain weak due to its positioning in consumer electronics industry product cycles: 40% of sales are in flat-to-declining TVs and PCs, with a much lower share in tablets and mobile phones.