NEW YORK (TheStreet) -- These stocks received upgrades to buy from TheStreet Ratings last week: Best Buy (BBY), Acacia Research (ACTG), Invesco (IVZ), Harleysville Group (HGIC), Spectrum Brands Holdings (SPB) and Knight Capital Group (KCG).
Best Buy was upgraded to buy from hold by TheStreet Ratings on Friday following the announcement it plans to close 50 U.S. stores in 2013.
The electronics retailer posted fourth-quarter earnings on Thursday of $2.47 a share, excluding items, on revenue of $16.73 billion; analysts were anticipating earnings of $2.16 a share on revenue of $17.2 billion.
The company said it intends to grow its presence in China and will make cost-cutting moves to the tune of $800 million by fiscal 2015.TheStreet Ratings gives Best Buy a B- grade and a $30.75 price target. The stock closed Friday at $23.68 and has risen 1.33% year to date.
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