1 posts and columns on Mitchell Kaiser

Best Buy: Piper Downgrades on Weakening TV Prices

in News on September 9, 2008 at 9:52 am PT

Piper Jaffray analyst Mitchell Kaiser this morning cut his rating on Best Buy (BBY) shares to Neutral from Buy, and chopped his price target on the stock to $49 from $54. “We are concerned about gross margin erosion in the home theater department as a result of what we expect will be significant flat panel TV price declines in the coming months,” Kaiser writes.