There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Best Buy Co (NYSE:BBY) and ScanSource (NASDAQ:SCSC) with bullish sentiments.
Best Buy Co (BBY)
Raymond James analyst Dan Wewer maintained a Buy rating on Best Buy Co today and set a price target of $90. The company’s shares closed yesterday at $77.57.
According to TipRanks.com, Wewer is a 3-star analyst with an average return of 4.5% and a 54.5% success rate. Wewer covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Michaels Companies.
The word on The Street in general, suggests a Hold analyst consensus rating for Best Buy Co with a $80 average price target, which is a 3.1% upside from current levels. In a report released yesterday, Loop Capital Markets also reiterated a Buy rating on the stock with a $88 price target.
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ScanSource (SCSC)
In a report released today, Adam Tindle from Raymond James maintained a Buy rating on ScanSource, with a price target of $47. The company’s shares closed yesterday at $43.15, close to its 52-week high of $45.35.
According to TipRanks.com, Tindle is a 3-star analyst with an average return of 8.3% and a 66.0% success rate. Tindle covers the Technology sector, focusing on stocks such as ConvergeOne Holdings Inc, Arlo Technologies Inc, and Sonos Inc.
Currently, the analyst consensus on ScanSource is a Moderate Buy with an average price target of $46, representing a 6.6% upside. In a report issued on August 15, Northcoast Research also reiterated a Buy rating on the stock with a $45 price target.
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