RadioShack (RSH) iPhone News is a Game-Changer

November 9, 2009 9:01 AM EST

Shares of RadioShack (NYSE: RSH) are 11 percent higher in early trading after the company disclosed they will introduce Apple's (Nasdaq: AAPL) popular iPhone 3G and iPhone 3GS at their stores.

RadioShack said the iPhone will be available in the Dallas-Fort Worth and New York City metropolitan areas beginning later this month.

RadioShack expects to introduce iPhone in stores nationwide in 2010.

One firm already upgraded RadioShack on the news and still others lifted their price target.

Credit Suisse upgraded RadioShack from Neutral to Outperform, calling the news a game-changer. The firm said the iPhone could add more than 25 cents to 2010 EPS. Credit Suisse raised its price target on Radio Shack from $15 to $25.

Analysts at FBR Capital said the iPhone news is another significant vote of confidence for RadioShack's wireless business. The firm raised their 2010E EPS estimate from $1.75 to $2.00 per share. The firm reiterated their Outeprform rating and raised their price target from $23 to $26 per share.

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