Amazon To Put the Nail in Best Buy’s Coffin: Piper Jaffray

Retailer Best Buy Co., Inc. (NYSE:BBY) has been going through troubled times. Its last earnings report was disappointing, with a miss on estimates and profits falling 52 percent from last year on revenues that declined 3 percent. The retailer suspended its stock repurchase program and also refused guidance for the balance of the year. A new CEO is soon to take charge. An earlier negotiation for the sale of the firm to founder and former chairman, Richard Schulze, fell through.

Piper Jaffray is of the opinion that Best Buy Co.,...