JPMorgan Lowers Rating on Best Buy, Sees Only Short-Lived Boost from Tax Stimulus
JPMorgan downgraded Best Buy from Overweight to Neutral and set a $76 price target, saying any near-term demand lift tied to tax-related stimulus will likely be transitory. The firm also trimmed its fourth-quarter outlook and flagged risks from rising memory prices, slowed TV and appliance demand, and indicators that some purchases may have been pu…