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Shares of beleaguered electronics retailer Best Buy (NYSE:BBY) may still be trudging forward on the stock chart below their 52-week high of $27.95, but they have made gains of close to 60 percent this year to date. Now, analysts Jeffries believe there are seven reasons to own the stock, which they outlined alongside their Wednesday upgrade of the company.
Over the past three months the electronics retailer has staged an impressive rally; in terms of both the gains the company’s shares have made on the stock chart and its better-than-expected fourth quarter results, Best Buy has begun to look like a company making a comeback. Given this recent performance, in a research note seen by Benzinga, the firm lifted its investment rating on the electronics retailer to a Buy and increased its price target from $13 to $24. This new objective represents a gain of 28 percent over Best Buy’s Wednesday closing price of $18.75…
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