[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5310 followers Created: 2025-07-14 18:44:05 UTC $BBY Attached is page X of a 16-page Piper Sandler analyst report on BBY issued yesterday entitled: "Downgrading to Neutral - Lacking Catalysts" Piper Sandler has a 'Neutral' rating on BBY with a $XX price target. Piper Sandler's 'Conclusion' regarding BBY in the report includes the following: "We are downgrading BBY to Neutral and reducing our PT to $XX (11.5x FY27E EPS). Certainly, we recognized BBY has underperformed YTD, and both expectations and valuation are low. However, we don't see any meaningful catalysts in the coming quarters to meaningfully accelerate comp/EPS growth. And we have longer-term competitor concerns around BBY's appliance (12% of sales) and TV (15%-20% of sales) categories. For our PT, we are reducing our multiple assumption from 12x to 11.5x based on lower growth expectations. A $XX PT also equates to 6x our FY27E EBITDA. -- Valuation: BBY shares by most historic measures are inexpensive. On a P/E basis, share trades at 11.3x FTM EPS versus its 5-year average of 12.5x. And on an EBITDA basis, shares trade at 6.8x FTM EBITDA versus the 5-year average of 7.2x. And if housing improves over the coming years, one could argue it trades at these below average valuations on depressed EPS/EBITDA. However, as noted above, we don’t see a meaningful catalyst on the horizon to accelerate growth. The launch of BBY Marketplace and renewed focus on BBY Ads could take quarters/years to materialize into meaningful drivers. And competitive dynamics in both Appliances and TVs could pressure gross margin over time. -- Risks to our Downgrade - An improved housing market over the next year provides a solid lift to both BBY Appliance and Consumer Electronics (i.e. Home Theater) categories. - Windows XX End of Life on October XX ends up driving a material PC replacement cycle that accelerates new PC demand industry-wide. - The rollout of Best Buy Marketplace is immediately accretive to company EBIT with accelerating benefits over the next 12-24 months (e.g. increasing revenue from BBY Ads). - New product innovation accelerates across the Consumer Electronics industry." (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [eps](/topic/eps) [bby](/topic/bby) [$bby](/topic/$bby) [stocks consumer cyclical](/topic/stocks-consumer-cyclical) [$pipr](/topic/$pipr) [Post Link](https://x.com/CorleoneDon77/status/1944830275671998679)
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DonCorleone77 @CorleoneDon77 on x 5310 followers
Created: 2025-07-14 18:44:05 UTC
$BBY
Attached is page X of a 16-page Piper Sandler analyst report on BBY issued yesterday entitled:
"Downgrading to Neutral - Lacking Catalysts"
Piper Sandler has a 'Neutral' rating on BBY with a $XX price target.
Piper Sandler's 'Conclusion' regarding BBY in the report includes the following:
"We are downgrading BBY to Neutral and reducing our PT to $XX (11.5x FY27E EPS). Certainly, we recognized BBY has underperformed YTD, and both expectations and valuation are low.
However, we don't see any meaningful catalysts in the coming quarters to meaningfully accelerate comp/EPS growth. And we have longer-term competitor concerns around BBY's appliance (12% of sales) and TV (15%-20% of sales) categories.
For our PT, we are reducing our multiple assumption from 12x to 11.5x based on lower growth expectations. A $XX PT also equates to 6x our FY27E EBITDA.
-- Valuation:
BBY shares by most historic measures are inexpensive. On a P/E basis, share trades at 11.3x FTM EPS versus its 5-year average of 12.5x. And on an EBITDA basis, shares trade at 6.8x FTM EBITDA versus the 5-year average of 7.2x. And if housing improves over the coming years, one could argue it trades at these below average valuations on depressed EPS/EBITDA.
However, as noted above, we don’t see a meaningful catalyst on the horizon to accelerate growth. The launch of BBY Marketplace and renewed focus on BBY Ads could take quarters/years to materialize into meaningful drivers. And competitive dynamics in both Appliances and TVs could pressure gross margin over time.
-- Risks to our Downgrade
- An improved housing market over the next year provides a solid lift to both BBY Appliance and Consumer Electronics (i.e. Home Theater) categories.
- Windows XX End of Life on October XX ends up driving a material PC replacement cycle that accelerates new PC demand industry-wide.
- The rollout of Best Buy Marketplace is immediately accretive to company EBIT with accelerating benefits over the next 12-24 months (e.g. increasing revenue from BBY Ads).
- New product innovation accelerates across the Consumer Electronics industry."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
Related Topics eps bby $bby stocks consumer cyclical $pipr