Why Best Buy (BBY) Stock Is Higher Today

NEW YORK (TheStreet) -- Best Buy Co., Inc  (BBY) stock is up 2.23% to $34.77 after analysts at Deutsche Bank  (DB) noted that the demise of its competing electronics retailer RadioShack  (RSH)  could be a positive by boosting business for Best Buy.

Analysts at the firm said if the struggling RadioShack closes its 5,000 stores across the country, their business will go somewhere else with Best Buy likely getting a large chunk of it.

About 11.5%, or $341 million, of RadioShack's sales could flow to Best Buy which currently has a 23% share in the market for consumer electronics, according to Deutsche Bank. 

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BBY Chart BBY data by YCharts

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