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BBY Again Enters Buyout Territory

|Includes: Best Buy Co. (BBY)

On Sept 2, when Best Buy was near its 52-week low, I posted an article about why Best Buy was a great "Buy" and fit the description as a strong takeover candidate. With the stock now round-tripping up to nearly $45 and back down to $35.50, BBY is now back to trading at an extremely low valuation for multi-billion dollar category-killing retailer.  At 3.3x EBITDA, the valuation is even cheaper than it was in early September and since the we have seen a couple takeovers in retail at much higher multiples (GYMB=6.8x and JCG=8.6x).  All the same reasons stand from the earlier article, which suggest my original view is as relevant now as it was then:;