Retail giants Best Buy and RH downgraded by Citi due to new tariffs, causing stocks to plummet.

From StockTwits: 2025-04-04 04:36:00

Citi downgrades Best Buy and RH to ‘Neutral’ from ‘Buy,’ citing risks from new tariffs. Best Buy’s price target lowered to $70 from $93, while RH’s target drops to $200 from $437. Shares of both companies plummet, with Best Buy down 18% and RH down 40%. New tariffs include 25% duty on auto imports and 10% baseline tariff on all U.S. trading partners. Citi warns of recession risks and significant challenges for retailers. Retail sentiment on Stocktwits is ‘extremely bearish’ for both companies. Best Buy shares down 27.5% and RH stock down 62% year to date.



Read more at StockTwits: Retail Hopes Dim Amid Stock Slide