I hope everyone took my advice several days ago to purchase or increase your position on the largest electronic dealer in the world. Best Buy announced today that it plans a buy back in their stock that will total around 5.5 billion dollars. Also they will increase their dividend 30 percent and this sent this stock higher today. Best Buy recently missed analyst forecast and it sent the stock down sharply. The recent news today has helped to correct to stock more, but Best Buy is still selling under $50 a share. If you can still get in on Best Buy for under $50 a share then continue to buy this stock. I see this stock in mid November as a stock in the low sixties and could even be around 65 to 66 dollars a share come November. I am very bullish on the stock and the news today just makes my thoughts on the stock even stronger. Opportunity still remains for Best Buy and if you missed my earlier recommendation for the stock, there is still time. In fact, I will remain bullish on the stock for anything under $50 a share. This is an excellent short term and long term investment and I wouldn’t be afraid to have my portfolio as high as 40 percent on this stock for at least the remainder of this year.
Best Buy Stock Update
June 27th, 2007 by admin
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Posted in Finance Source
