1021 ET - Best Buy had a good first quarter, notching broad-based improvements across the business as it capitalized on strength in demand for emerging products like collectibles, wearables and AI glasses, UBS analysts say in a research note. However, Wall Street's sharp reaction, which sent shares 16% higher on Thursday, has now balanced the upside/downside skew, they add. "Our thesis remains that this specialty retailer should see outsized earnings growth" as it continues to grow its top line, the analysts say. "But, this is now more reflected in the stock." If you don't already own shares, now may not be the time to buy them, UBS says, cutting its rating to neutral. (connor.hart@wsj.com)

(END) Dow Jones Newswires

May 29, 2026 10:21 ET (14:21 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.