JPMorgan Lowers Best Buy Rating, Flags Computing and Housing-Related Headwinds
JPMorgan downgraded Best Buy from Overweight to Neutral and trimmed its price target to $76 from $99, citing near-term risks tied to computing demand, memory price dynamics and a potentially difficult fourth quarter of fiscal 2025. The bank highlighted that computing accounts for more than 35% of Best Buy's product mix and flagged softer trends in …