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BBY stock rated a Buy by Citigroup

Best Buy Co. Inc.’s filing revealed that its SVP, Controller & CAO Watson Mathew unloaded Company’s shares for reported $0.2 million on Jun 06 ’24. In the deal valued at $88.12 per share,2,319 shares were sold. As a result of this transaction, Watson Mathew now holds 20,279 shares worth roughly $1.78 million.

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Then, SCHULZE RICHARD M sold 1,000,000 shares, generating $85,846,747 in total proceeds. Upon selling the shares at $85.85, the Chairman Emeritus now owns 15,890,103 shares.

Before that, Watson Mathew sold 2,000 shares. Best Buy Co. Inc. shares valued at $171,628 were divested by the SVP, Controller & CAO at a price of $85.81 per share. As a result of the transaction, Watson Mathew now holds 20,279 shares, worth roughly $1.78 million.

Citigroup upgraded its Best Buy Co. Inc. [BBY] rating to a Buy from a a Sell in a research note published on June 03, 2024; the price target was increased to $100 from $67. A number of analysts have revised their coverage, including Telsey Advisory Group’s analysts, who decreased its forecast for the stock in late May from “an Outperform” to “a Market perform”. Jefferies also remained covering BBY and reiterated its “Buy” recommendation on April 08, 2024. JP Morgan revised its rating on March 22, 2024. It rated BBY as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of BBY

On Friday, Best Buy Co. Inc. [NYSE:BBY] saw its stock fall -0.27% to $87.92. Over the last five days, the stock has gained 3.65%. Best Buy Co. Inc. shares have risen nearly 12.31% since the year began. Nevertheless, the stocks have risen 16.17% over the past one year. While a 52-week high of $88.96 was reached on 06/07/24, a 52-week low of $62.30 was recorded on 05/23/24. SMA at 50 days reached $77.04, while 200 days put it at $74.01. A total of 2.33 million shares were traded, compared to the trading of 2.88 million shares in the previous session.

Levels Of Support And Resistance For BBY Stock

The 24-hour chart illustrates a support level at 87.31, which if violated will result in even more drops to 86.70. On the upside, there is a resistance level at 88.76. A further resistance level may holdings at 89.61. The Relative Strength Index (RSI) on the 14-day chart is 73.81, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.14, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.47%. Stochastics %K at 96.79% indicates the stock is a selling.

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