Wal-Mart (WMT) isn’t the only retailer that will be getting your tax rebates, says Jeffries. Jefferies expects Best Buy (BBY) to beat Q1 consensus estimates next week due to a lift from tax rebates.
Considering most people believe the tax rebates will be going to Exxon Mobil (XOM) and food (WMT) and not electronics, even a small boost could help BBY beat consensus. Jeffries isn’t that gung-ho on BBY, however: They maintain a HOLD.
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