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New Best Buy (NYSE:BBY) chief executive Hubert Joly is so far catching some breaks with his new employer. Since founder Richard Shulze’s attempt to raise capital to take the company private fell through, combined with successful cost cutting, Best Buy has been falling back into the good graces of several Wall Street firms, who have been consistently raising the company’s stock ratings.
The latest was RBC, which joined the ranks and upgraded Best Buy shares to Outperform, and cited Best Buy’s impressive performance this year and commended the company on its ability to match prices “without destroying its margins,” MarketWatch reported.
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