Top Stories
Top Stories

Following huge beat, buy Best Buy?

Getty Images

Investors were pleasantly surprised on Tuesday as Best Buy, the consumer electronics retailer, reported better than expected sales, profit margins and raised guidance ahead of estimates.

The company's stock ended the day up nearly 13 percent, its biggest daily increase since August 2013. For the year, however, ticker BBY is still down 15 percent.

As of Tuesday afternoon, 46 percent of Wall Street analysts who cover Best Buy rate it either sell or hold, according to FactSet. This compares to just 16 percent for Amazon.

Here's why the company is doing better and how the Street's negativity towards Best Buy could be a positive...