Profit forecasts for several major electronics chains are looking suddenly positive, led by Best Buy and Conn’s. That’s the conclusion of an analysis published Monday by Zacks Industry Rank, a division of Zacks Investment Research, Inc.
The reason for Zacks’ optimism? More than 40 percent of estimates released by retail consumer electronics chains have been revised positively, which Zacks calls "a very bullish sign." The analysis specifically mentioned Best Buy, Conn’s and Game Stop, and stated that all have been helped by the demise of Circuit City.
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