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Non-Tech : BBY- BEST BUY

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To: BUYandHOLD who wrote (9)	10/21/1998 9:32:00 AM
From: Rainy_Day_Woman	Read Replies (1) of 11

CHICAGO, Oct 19 (Reuters) - George K. Baum & Co. retail industry analyst Dean Ramos said Monday he initiated coverage of home electronics retailer Best Buy Co. Inc. (NYSE:BBY - news) with a buy rating and a 12 to 18 month share price target of $50. -- ''The selling environment for consumer electronics has improved this year and Best Buy remains well positioned to take advantage of a broadening market for personal computers brought on by price declines,'' Ramos said in a research report. -- Says the stock, which is down from a high of 54-3/4, is still likely to be volatile but the company's ''leaner'' balance sheet will allow self funded growth and ongoing stock repurchases. -- Estimates fiscal 1999 earnings per share of $1.90 and fiscal 2000 of $2.40. Best Buy earned $1.04 per share in its fiscal 1998. The fiscal year ends in February.

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