Best Buy stock jumps 18%: Here's why Jefferies sees more upside

Best Buy shares surged 18% after the retailer reported stronger-than-expected first-quarter earnings, with operating EPS rising to $1.28 from $1.15 a year earlier. The beat was supported by higher margins and modest sales growth, indicating improved fundamentals in a challenging retail environment.

Analysis

Best Buy shares surged 18% after the retailer reported stronger-than-expected first-quarter earnings, with operating EPS rising to $1.28 from $1.15 a year earlier. The beat was supported by higher margins and modest sales growth, indicating improved fundamentals in a challenging retail environment.