Best Buy Price Target Lifted to $89 After Q1 EPS Beats, Revenue Growth
BBY•Jefferies raised Best Buy’s price target to $89, implying 16.7% upside, after the retailer reported Q1 adjusted earnings of $1.28 per share on $8.94 billion in revenue. Comparable sales rose 2% and the company reaffirmed full-year revenue guidance of $41.2–$42.1 billion, fueling a 17% stock surge.
1. Price Target Increase
Jefferies boosted Best Buy’s price target from $83 to $89, signaling a 16.7% upside from the prior trading level of $76.24. The upgrade reflects increased confidence in the company’s omni-channel strategy and financial momentum.
2. Q1 Earnings and Sales Performance
For the first quarter, Best Buy reported adjusted earnings of $1.28 per share on revenue of $8.94 billion, surpassing internal projections. Comparable sales climbed 2%, driven by a 1.5% rise in domestic revenue to $8.20 billion, led by strong gaming, computing and mobile phone categories.
3. Guidance Reaffirmation and Market Reaction
The company reaffirmed full-year revenue guidance at $41.2–$42.1 billion. Following the earnings release, the stock jumped 17%, reflecting investor enthusiasm over exceeded expectations and confirmed outlook.



