Friday's Best Buy

Reasons why we like Best Buy

By Wall Street Media on MSN Money Jan 7, 2011 6:35PM
Written by Douglas Estadt

Today, we look at why Best Buy Co. Inc. (Nasdaq:BBY) may prove a "best buy" in the common stock.  We sold puts and made some money in them already this month but today bought a little of their common stock at $35.23 and $35.30 because I believe the potential upside may be larger over the long term than many people currently realize:
 
  • Competition from other electronic retail providers has been reduced to the point where Best Buy has become the remaining "go-to" store in its sector by default 
  • Today's announcement of their electronic charging station partnership with Ford Motor Company (NYSE:F) may prove far more lucrative long term than present valuation suggests
  • An improving economy will benefit Best Buy
 
For more on Best Buy, watch the video below

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