Best Buy Co., Inc : The underlying trend is to the upside

11/26/2020 | 08:14am EST

Nicolas Aleksy

long trade Stop-loss triggered

Entry price : 115$ | Target : 123$ | Stop-loss : 109$ | Potential : 6.96%

The current trading zone is interesting to the point that investors should pay attention to the stock and anticipate a return of the underlying upward trend. Investors have an opportunity to buy the stock and target the $ 123.

Summary

• The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
• The company has solid fundamentals for a short-term investment strategy.

Strengths

• Considering the small differences between the analysts' various estimates, the group's business visibility is good.
• The group usually releases upbeat results with huge surprise rates.
• The company shows low valuation levels, with an enterprise value at 0.57 times its sales.
• Sales forecast by analysts have been recently revised upwards.
• Over the last twelve months, the sales forecast has been frequently revised upwards.
• For several months, analysts have been revising their EPS estimates roughly upwards.
• For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
• The stock is in a well-established, long-term rising trend above the technical support level at 77.76 USD

Weaknesses

• The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

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