NEW YORK (TheStreet) -- Shares of Best Buy Co., Inc (BBY) are surging, up 4.30% to $30.31, after it was reported earlier that the technology products retailer is evaluating its foreign portfolio and considering its options, including a sale or partnership for its Chinese business.
Best Buy was said to be working with Bank of America Merrill Lynch (BAC).
The Chinese business reportedly could be sold for about $300 million, the Wall Street Journal said.Also, the company had its "neutral" rating restated by Zacks today. The firm has a $31.00 price target on the stock, suggesting a potential upside of 6.68% from the company's current price.
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