Could Best Buy (BBY) Be Undervalued?
Posted: Monday, November 16, 2009 10:15 AM EDT
By: Market Intelligence Center Staff
Best Buy (NYSE: BBY) opened at $42.16. So far today, the stock has hit a low of $42.16 and a high of $42.94. BBY is now trading at $42.78, up $0.93 (2.22%). Over the last 52 weeks the stock has ranged from a low of $16.42 to a high of $43.07. According to an report published in Barron's over the weekend, BBY stock could be undervalued. The analyst who wrote the report speculated that the company could surprise investors this holiday season, and that it has carefully managed inventories. Technical indicators for the stock are neutral and S&P gives BBY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BBY the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Best Buy (BBY) Stock ReportSee what our analysts have uncovered about Best Buy (BBY).