Trust Securities believes Best Buy is positioned to maintain growth momentum, driven by multiple market trends, including the ongoing integration of artificial intelligence technology into consumer electronics. The firm upgraded the consumer electronics retailer's rating from hold to buy, while raising its price target to $95 from $81, implying a 15% upside from Monday's closing price.

Analyst Scott Ciccarelli wrote in a client note on Tuesday, "We believe factors driving Best Buy's operational improvement include sustained demand for device upgrades, internal operational adjustments such as the optimization of appliance delivery services, and emerging small product cycles like AI-powered wearable devices."