Best Buy (BBY) is set for solid Q4 earnings March 4, but its 2025 guidance could be soft, Wedbush said in a Monday note.

"We expect a good quarter on the back of a favorable holiday shopping season and conservative guidance," the report said.

"But we expect soft 2025 guidance given macro uncertainties and high exposure to tariffs, and despite a building consumer electronics replacement and innovation cycle," it added.

Wedbush forecast Q4 earnings per share of $2.39, compared with consensus estimate of $2.40. It expects net sales of $13.7 billion, in-line with consensus estimates.

Wedbush has a neutral rating with a price target of $90.

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