Analysts: Best Buy is Sweetening Loyalty Program and 3 More Research Notes to Look Into
Best Buy (NYSE:BBY): SunTrust says that Best Buy is in the process of sweetening the terms of its loyalty program, including the removal of point expiration, increasing credits, and lowering prices. The firm continues to recommend shares given store and website efforts, a better defined strategy, and improving macro tailwinds, among other reasons. It keeps a Buy rating on the shares, with a $35 price target.
IMAX (NASDAQ:IMAX): B. Riley is confident that IMAX shares should be bought on any weakness ahead of the Q3 results, as the firm reports that tough comps have historically not impeded the company’s results. It thinks the 18 percent year-over-year increase in commercial IMAX screens should help offset any risk to the company, and reiterates a $17 price target and Buy rating on the shares.
Qualcomm (NASDAQ:QCOM): Recent supply checks by William Blair indicate that Qualcomm has picked up meaningful content in Samsung’s (SSNLF) Galaxy S4 platform and recommends using the recent weakness in Qualcomm shares as a buying opportunity, saying the stock is near the low end of its historical trading range. The firm has an Outperform rating on the shares.
FedEx (NYSE:FDX): Citigroup sees the company’s FY14 guidance as being conservative, resting at 7 percent to 13 percent growth for earnings, or about $6.67-$7.04 per share. Citi says the company’s Q4 results were better than expected, and has a Buy rating on the stock.