FBR Capital Reiterates an 'Outperform' on RadioShack (RSH); Positive Channel Checks
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FBR Capital reiterates an Outperform rating on RadioShack (NYSE: RSH), raises price target from $26 to $29.
FBR analyst says, "We called the 10 RSH stores that have the initial allocation of the iPhone (Nasdaq: AAPL) this past weekend. We were encouraged that, despite zero advertising and very limited display, 70% of stores within the first five days have sold "some" (in some cases, "several"; in some cases, at least one). In the meantime, we view 4Q09E as a "bird in the hand" quarter, with our $0.60 EPS estimate of $0.03 per share above consensus. We reconcile our 2010E assumptions (where we are also above consensus) herein. There is upside to our assumptions, should RSH regain traction with attachment rates of higher-margin accessories, with wireless sales acceleration...Our 2010E EPS estimate of $2.00 per share is above the consensus estimate of $1.62."
To see more analyst ratings on RSH Click Here.
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