On September 2, Best Buy rose 5.2% in regular trading, trading at $86.93/share, with turnover of $257 million. The rally was driven by the company's recently reported fiscal Q2 results that comprehensively exceeded market expectations, coupled with a wave of analyst price target upgrades.

Best Buy delivered fiscal Q2 adjusted EPS of $1.47, beating the consensus estimate of $1.38 by 6.5%, while revenue came in at $9.779 billion versus the $9.593 billion estimate. Comparable sales surged 4.1%, far surpassing the company's prior guidance of approximately 1%. Strength was broad-based, led by computing, mobile phones, home theater, and emerging categories such as AI glasses. The company also lifted its full-year fiscal 2027 revenue guidance to $42.3B-$42.8B versus the $42.08B consensus, and adjusted EPS guidance to $6.70-$6.90 versus the $6.62 estimate.

Following the earnings release, Daiwa Securities raised its target to $83 from $77, Barclays lifted its target to $85, DA Davidson adjusted to $95 from $90 maintaining a Buy rating, and Truist upgraded the stock to Buy with a $95 target, citing AI product adoption and device refresh cycles as growth catalysts. The mean analyst price target rose from approximately $82 to $86.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)