Truist Upgrades Best Buy to Buy, Says AI Consumer Devices Will Fuel Sales Growth

Truist Securities upgraded Best Buy to "buy" from "hold," raising its price target to $95 due to accelerating replacement demand and the integration of AI into consumer devices. Analyst Scot Ciccarelli expects Best Buy's second-quarter U.S. same-store sales to rise 2.5%, significantly above the consensus. This upgrade contrasts with most analysts who rate the stock a "hold," with some, like Goldman Sachs, even issuing "sell" calls over margin concerns.