On October 9, Best Buy rose 5.02% in regular trading, reaching $88.84 per share with turnover of $158 million. The movement was driven by positive catalysts related to the company's retail media expansion and AI technology integration.

Best Buy Ads partnered with LG Ad Solutions to make advertising inventory across LG's TV ecosystem available to US retail media advertisers, extending retail media spending into connected TV environments. Additionally, Tata Consultancy Services agreed to take over Best Buy's India Global Capability Center, combining operations and utilizing AI capabilities to develop new technology and improve existing processes.

Analyst sentiment has been steadily improving, with Evercore ISI recently raising its price target to $90 from $85, and the consensus price target standing at $87.16 according to FactSet data.

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