Best Buy seen pouncing on hhgregg sales

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

Deutsche Bank analyst Mike Baker calls Best Buy (BBY +0.7%) the "biggest beneficiary" of the hhgregg <<hgg>> bankruptcy filing.

Baker notes that if Best Buy can capture 20% of hhgregg's annual sales it would bring in ~$335M and add 90 basis points to its comparable sales growth.

DB rates Best Buy at Hold, with a price target of $46.

Previously: Bankruptcy for hhgregg (March 7)

Previously: No buyer in sight, bankrupt hhgregg sets liquidation in motion (April 7)