Investor’s Update: Best Buy Co., Inc. (NYSE:BBY)

[Benzinga] Best Buy Co., Inc. (NYSE:BBY) was recently rated Overweight by Morgan Stanley analyst Simeon Gutman. But the analyst removed the $36 price target. In the report, Morgan Stanley noted, “Product drivers heading into holiday are becoming clearer; 4K TV adoption is growing and mobile phones have renewed momentum. Our analysis of installment pricing also points to a modest top-line boost.”Stock PerformanceTaking a look at the company’s recent performance, Best Buy Co., Inc. (BBY) reported second quarter earnings for fiscal 2015 on August 26^th. The company reported actual earnings per share of $0.44 against the consensus Street estimate of $0.31. This represents year over year growth of 27.27%. Best Buy posted revenue of $37.43 billion against estimates of $37.80 billion.Best Buy is currently valued at $10.39 billion and closed the last trading session at $29.72. The stock has a 50-day moving average of $32.19 and a 200-day moving average of $28.94.

Is this a Buying Opportunity?There are currently twenty analysts that we track that cover the stock. Of those twenty, sixteen have a Buy rating and four have a hold rating. On a consensus basis this yields a score of 2.80 and a Buy. The combined price objective of these covering analysts is $39.58, which represents a 17.84% upside difference to the last closing price.The most recent analyst activity consisted of Morgan Stanley reiterating their Buy stance on the company. On the date of the report, the stock closed at $33.65.Another research firm weighing in recently was Zacks who also reiterated their rating on the stock. On September 15^th Zacks boosted their price target on the stock from $35 to $40, or a 22.32% upside to the current price. On the day of the report, BBY shares closed at $34.01.Company ProfileBest Buy Co., Inc. (NYSE:BBY) operates as a multi-national, multi-channel retailer of technology products in the United States, Canada, China, and Mexico. Its stores offer consumer electronics consisting primarily of television and home theaters; digital cameras and camcorders; DVD and Blu-ray players; portable electronics, such as MP3 devices, headphones and speakers, car stereo, navigation and satellite radio; and all related accessories.