Best Buy's team of the future?
Whether or not Richard Schulze makes an offer for Best Buy, the company he founded in 1983, analysts are sold on the current management team that’s emerged after the turmoil of the last year. Former Carlson executive Hubert Joly was named CEO by the Best Buy board in August and Joly has since named a new CFO, a new e-commerce chief and other appointments. “This is the right management team for Best Buy,” Janney Capital Management analyst David Strasser told the Star Tribune last week, “whether it goes private or stays public.”
1st-year success at Proto Labs
On Saturday, Proto Labs celebrated its first year as a public company. The IPO was priced at $16 per share. Proto Labs closed Friday at $45.51. The company reported annual sales on Feb. 13 of $27 million, a 27 percent increase over 2011. The fourth-quarter results also exceeded analysts’ expectations while the stock soared again. James Ricchiuti, an analyst with Needham & Co., reaffirmed his “buy” rating on Feb. 13, writing in his research note that “PRLB is being viewed increasingly as a classic growth story, with a highly profitable business model.’’