Business

Market Movers

Electronics chain up on analyst thumbs-up

The retailer has cut jobs, pared management, and sold assets to right itself.

STEPHEN LAM /Reuters/File 2012

The retailer has cut jobs, pared management, and sold assets to right itself.

Advertisement

Best Buy Co. reached a two-year high after Credit Suisse agreed with the electronics chain’s turnaround efforts. The investment firm resumed coverage of Best Buy with an “outperform” rating and raised its price target to $40. Under CEO Hubert Joly, Best Buy has been matching rivals’ online prices, revamping and dedicating more in-store space to faster-growing product categories, and investing in employee training. “Best Buy is turning its store base from a cost liability to an offensive weapon,” analyst Gary Balter wrote.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com