A Piper Jaffray analyst’s positive comments on Best Buy has increased share prices in the company by just under 10%, also no doubt helped by strong ’buy one get one half-price’ deals for gamers.

The company’s share price jumped from $36.09 on Wednesday, to $39.65 by the end of Thursday; a 9.86% increase.

Piper Jaffray analyst Mitchell Kaiser said:

“We have confidence in our increased Q2 estimates as our checks indicate an accelerating comp trend as the quarter progressed, driven by strength in mobile phones, computing and flat panel TVs.”

He has upped his target price from $42 to $50 as a result.

This news is coupled with the company’s ‘buy one get one half-price’ deals, which has seen Xbox 360 gamers able to buy a full-priced game and receive another one for half-price. A similar PS3 deal will be hitting Best Buy stores this weekend.

While the electronics retail sector has seen a dip in form, Best Buy has held steady; helped, no doubt, by the closure of their former rivals Circuit City.

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