The Richfield, MN-based retailer of technology products is the firm's "value pick," Barclays said.
Best Buy faces a challenging consumer electronics industry, the firm added. However, the company is now stabilized and "margin opportunities remain."
Additionally, Best Buy's shareholder returns are accelerating, according to Barclays.
Best Buy stock is up by 0.33% to $31.67 in pre-market trading on Thursday.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: BBY