UBS Comments on Best Buy (BBY)

UBS maintained a Neutral rating on Best Buy (NYSE: BBY) and cut its price target to $12.50 (from $14.50).

Commenting on Best Buy's recent quarterly report, analysts said "With each passing quarter, it seems like BBY's array of challenges are becoming more intense."

Analysts think that as BBY's operating margin declines and free cash flow shrinks, it will have less room to invest in its business.

"Whether it's the stodgy product cycle, the mix shift to lower margin products or the intense competition, we find it hard to believe that BBY can address these issues simply by executing better," concluded UBS.

For an analyst ratings summary and ratings history on Best Buy click here. For more ratings news on Best Buy click here.

Shares of Best Buy closed at $11.96 yesterday.

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