Barclays Halves Price Target on Barnes & Noble (BKS); Cuts Outlook as NOOK Estimates Miss Again
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Price: $21.76 -1.23%
Rating Summary:
2 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
2 Buy, 3 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade BKS Now!
Barclays maintains an 'Underweight' on Barnes & Noble (NYSE: BKS) price target of $10.00 (from $20.00).
Analyst, Alan M. Rifkin, said, "4Q EPS slightly above our estimate, although fundamentals across the business remain challenged...NOOK revenues disappoint...We believe it is prudent to focus on the company's deteriorating fundamentals and the ongoing significant investments necessary to fund the NOOK and digital business. We are lowering our 2013 EPS estimate from $(0.60) to $(0.75) and our 2014 EPS estimate from $(0.30) to $(0.45)."
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 $14.63 yesterday, with a 52 week range of $9.35-$26.00.
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Analyst, Alan M. Rifkin, said, "4Q EPS slightly above our estimate, although fundamentals across the business remain challenged...NOOK revenues disappoint...We believe it is prudent to focus on the company's deteriorating fundamentals and the ongoing significant investments necessary to fund the NOOK and digital business. We are lowering our 2013 EPS estimate from $(0.60) to $(0.75) and our 2014 EPS estimate from $(0.30) to $(0.45)."
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 $14.63 yesterday, with a 52 week range of $9.35-$26.00.
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