Best Buy, With Mindshift Deal, Enters IT for Small Businesses

Financial News Network
December 24, 2011 AT 10:50 AM
Next week, Best Buy (NYSE:BBY) closes its deal to purchase Mindshift Technologies, which provides IT services to more than 5,400 small and medium-sized businesses throughout the country, and will offer their services through its more than 1,100 big-box stores, reports the Wall Street Journal.Best Buy (NYSE:BBY) has potential upside of 34% based on a current price of $23.13 and an average consensus analyst price target of $31.Best Buy is currently below its 50-day moving average (MA) of $26.24 and below its 200-day MA of $27.92.