Making money has a way of patching over differences, but investors would do well to approach Best Buy's (NYSE:BBY) "outperformance" in Q1 with a healthy dose of skepticism. Not only are the fundamentals
here still pretty dodgy, but the company has only a limited window to
get its retailing act together. Although I believe the current price on
Best Buy shares is below most coherent down-side scenario fair values,
retail turnarounds are tricky and investors ought to demand a
substantial discount before taking their chances on this stock.
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