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Ahead of today's Q3 results from mega-retailer Best Buy (BBY), the consumer electronics giant saw its share price get a lift last evening after Citigroup's Kate McShane raised her quarterly EPS figure from $0.38 to $0.45 on the back of a better-than-expected holiday shopping season for the retailer.
McShane noted strength in laptops, video games, televisions and digital cameras -- as well as Geek Squad services to boot. She went on to raise her target for BBY shares from $40 to $45 also. To top it off, McShane raised her same-store sales figure for the Q3 period to a 4% growth figure. From a horrid 2008 season, that growth won't be hard to hit, most likely. Best Buy has been handily competing with Walmart (WMT) and even online retailers this season, as the consumer sector recovers from a recession and job losses, finally, slow down.
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