BUZZ-Street View: Best Buy's sales rebound may lift stock despite concerns over one-time tariff refunds

Piper Sandler ("neutral", PT: $85) said Best Buy's sales rebound is broadening, with TVs and appliances turning positive after years of weakness, though expectations have risen following the stock's strong run.

D.A. Davidson ("buy", PT: $95) said demand for TVs, appliances and computers is being driven by innovation and replacement cycles, with those strengths outweighing concerns around tariff-related profit benefits.

KeyBanc ("sector weight") said Best Buy's strong quarter and higher outlook reflect improving demand, but tariff refunds, tougher PC comparisons and intense competition could weigh on future results.

Jefferies ("hold", PT: $84) said stronger appliance performance, emerging tech categories and growing memberships are supporting sales, but fading one-time benefits and pressure in PCs could limit further upside.

Electronics retailer Best Buy BBY.N raised its annual forecasts on Thursday after topping quarterly sales and profit estimates, but shares fell as the forecast increase was driven primarily by a $34 million tariff refund.

The median price target of 26 brokerages covering the stock is $85, according to data compiled by LSEG.