Goldman Sachs Thinks Barnes & Noble (BKS) Trades Close to Fair Value

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Goldman Sachs today maintained a Neutral rating on Barnes & Noble (NYSE: BKS) and boosted its price target to $18.00 (from $17.00). The increased price target reflects better than expected bookstore earnings and potential for M&A.

"We raise our 12-month price target to $18 from $17 to reflect higher earnings for the retail business and to incorporate a 15% M&A weighting (at a higher multiple 4x EV/EBITDA vs. 3x in our base case)," said analyst Matthew J. Fassler.

For an analyst ratings summary and ratings history on Barnes & Noble (NYSE: BKS) click here. For more ratings news on Barnes & Noble click here.

Shares of Barnes & Noble closed at $16.46 yesterday, with a 52 week range of $10.45-$26.00.

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