Barnes & Noble's (BKS) Nook - The Dark Horse of Tablets?

November 28, 2012 11:14 AM EST
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Price: $11.35 -0.87%

Rating Summary:
    3 Buy, 6 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 5 | New: 0
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Barnes & Noble (NYSE: BKS) is not a technology company, and yet has succeeded in the tablet market while tech bellwethers such as Hewlett-Packard (NYSE: HPQ) and Dell (Nasdaq: DELL) have failed.

It is now in direct competition and holding its own as it fights tooth and nail with the likes of Apple (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT), Amazon (Nasdaq: AMZN), and Samsung. Who would have guessed?

In a research note, analysts at Maxim Group pointed out that industry sources say Apple's iPad dominated tablet traffic this holiday weekend with 88.3 percent of traffic, followed by Barnes & Noble's Nook with 3.1 percent, Amazon's Kindle with 2.4 percent, and Samsung Galaxy's 1.8 percent.

"While small, this suggests that BKS is a player in a growing market. Our bet is that BKS is continuing to win share in a female demo, and with stores such as Target (NYSE: TGT) dropping the Kindle, BKS keeps emerging as the 'anti-Amazon'," said analyst John Tinker.

The Nook appears to be the cheapest tablet on the market, excluding promotions.

Maxim Group has a Buy rating on Barnes & Noble (NYSE: BKS) and a price target of $30.00.

For an analyst ratings summary and ratings history on Barnes & Noble click here. For more ratings news on Barnes & Noble click here.

Shares of Barnes & Noble closed at $15.92 yesterday.

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