Weekly Recap: Raised 2026 guidance and analyst price-target upgrades

Deutsche Bank upgraded its price target for Balfour Beatty (LSE:BBY) to 1,100p from 990p and kept a Buy rating, citing an “excellent” first half and upgraded full-year guidance. It raised earnings forecasts about 5% and cash expectations. Balfour Beatty lifted profit guidance, net cash to £1.5-£1.7bn, and expects US construction to turn profitable.

Truist analyst Scot Ciccarelli upgraded Best Buy (BBY) to Buy on Aug. 11 and raised his price target to $95, citing accelerating credit card spending in BBY’s Q2 and expectations for continued replacement demand and AI-driven product cycles. He expects fiscal Q2 EPS of $1.34 (consensus) and a 2.5% comparable sales gain. Consensus rating is Hold with a mean target near $81.

Balfour Beatty plc (LSE:BBY) shares rose about 9% to 945p after the company raised full-year guidance. It now expects low double-digit profit from operations growth at earnings-based businesses, net cash of £1.5bn to £1.7bn, and net finance income of £35m to £40m. US construction returned to profit, lifting group underlying profit from operations to £119m from £77m, on revenue of £5.56bn.

Truist Securities upgraded Best Buy (BBY) to buy from hold and raised its price target to $95 from $81, citing replacement demand, internal changes such as appliance delivery, and new product cycles tied to AI wearables. Truist expects Best Buy domestic comps to rise 2.5% in fiscal Q2 vs about 1% consensus. Earnings are due Aug. 27.

Jefferies downgraded Best Buy (BBY) to Hold from Buy, citing slowing consumer demand and higher cost pressures. It said July purchase-intent fell more than 3% YoY and expects limited upside to any Q2-driven guidance. Jefferies kept a $85 price target and forecasts FY2027 EPS of $6.65 and revenue of $42.2B. It expects DRAM costs to pressure PC sales.

Best Buy (BBY) said Jason Bonfig will become CEO on Nov. 1 and plans to expand into smaller-format stores of about 12,000 to 15,000 sq ft, versus roughly 40,000 sq ft for traditional locations, to reach markets too small for big-box sites. The company reported Q1 FY2027 enterprise revenue of about $8.94B and adjusted EPS of $1.28, with comparable sales up 2%, and kept FY outlook at adjusted EPS $6.30 to $6.60.