UPDATE: Citi Reiterates Sell on Best Buy, Reduces PT to $23

Citi reiterated its Sell rating on Best Buy (NYSE: BBY). At the same time, the rating agency reduced its price target on the company's stock from $27 to $23. On Monday, BBY lost 6.15% of its value to finish the day at $23.95. Its shares continued to slide in today's pre-market trading, falling 0.42% to stand around $23.85.