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Analyst Kate McShane cut her rating on Best Buy shares to Sell from Neutral, and shaved $10 off her price target, to $97. Justin Sullivan/Getty Images
Best Buy stock is falling early Thursday, following a downgrade from
Goldman Sachs, which warns that it could struggle to maintain its rally next year.
Analyst Kate McShane cut her rating on Best Buy shares (ticker: BBY) to Sell from Neutral, and shaved $10 off her price target, to $97. She writes that this isn’t a negative commentary on the company itself: “Best Buy is one of the best run retailers in the U.S. and continues to evolve its omnichannel, but as we look to 2021 we see risk for the stock.”