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‘Virtual national monopoly’ makes Best Buy a top stock for 2009: analyst

An analyst said today that Best Buy‘s “virtual national monopoly” in the consumer electronics sector makes it a top stock pick for 2009. Thomas Bradley of KeyBanc Capital Markets said Circuit City’s bankruptcy leaves Best Buy well positioned to take advantage of any upswing in the economy, the Associated Press reports. But “virtual national monopoly”? Seems like a stretch to me with retailers like Target, Wal-Mart and iTunes increasingly trying to compete on the same turf. Best Buy is scheduled to report its third-quarter earnings next week.

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