Barclays Maintains an 'Underweight' on Barnes & Noble (BKS); E-readers: More Competition Ahead
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Price: $6.49 --0%
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Underweight' on Barnes & Noble (NYSE: BKS) price target of $10.00.
Barclays analyst says, "While BKS has recently expanded the distribution of its NOOK readers, we believe its prospects of gaining share in the digital market are uncertain. BKS continues to compete with companies such as Amazon (Nasdaq: AMZN) and Apple (Nasdaq: AAPL), who have approximately 10x the marketing budget that BKS has. Considering the�introduction of these new Kindle products, we believe that NOOK sales across all�segments will total $1.6B in fiscal 2012, down from our prior $1.8B estimate and $2B in fiscal 2013, down from our prior $2.3B estimate. As such, we are lowering our fiscal 2012 EPS estimate from $(0.50) to $(0.60) and our fiscal 2013 EPS estimate from $0.00 to $(0.30)."
For more ratings news on Barnes and Noble click here and for the rating history of Barnes and Noble click here.
Shares of Barnes and Noble closed at $11.83 yesterday.
Barclays analyst says, "While BKS has recently expanded the distribution of its NOOK readers, we believe its prospects of gaining share in the digital market are uncertain. BKS continues to compete with companies such as Amazon (Nasdaq: AMZN) and Apple (Nasdaq: AAPL), who have approximately 10x the marketing budget that BKS has. Considering the�introduction of these new Kindle products, we believe that NOOK sales across all�segments will total $1.6B in fiscal 2012, down from our prior $1.8B estimate and $2B in fiscal 2013, down from our prior $2.3B estimate. As such, we are lowering our fiscal 2012 EPS estimate from $(0.50) to $(0.60) and our fiscal 2013 EPS estimate from $0.00 to $(0.30)."
For more ratings news on Barnes and Noble click here and for the rating history of Barnes and Noble click here.
Shares of Barnes and Noble closed at $11.83 yesterday.
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