RadioShack (RSH) PT Reduced to $0.50 at UBS (Earlier)

UBS maintained a Sell rating on RadioShack Corp. (NYSE: RSH) and cuts its price target to $0.50 (from $0.90).

Analyst Michael Lasser said, "We think RSH's efforts to effectuate a turn-around have been hampered by a difficult operating environment. The company is running in a perilous position with dwindling financial flexibility. As of the end of last quarter, RSH had $61.8 mm in cash and $361.9 mm available under its 2018 credit facility. RSH’s total debt stood at $614.5 mm at that time. Furthermore, the co's CDS have climbed 70% in the last month, suggesting that it is becoming much more expensive for counterparties to do business with the retailer. RSH is likely to report its 2Q results in the coming weeks and we think the results will serve as a reminder to be cautious when approaching the stock."

For an analyst ratings summary and ratings history on RadioShack Corp. click here. For more ratings news on RadioShack Corp. click here.

Shares of RadioShack Corp. closed at $0.64 yesterday.

You May Also Be Interested In

• Nutanix (NTNX) PT Raised to $80 at Oppenheimer Into EPS
• Jefferies Downgrades IDP Education (IEL:AU) (IDPUF) to Hold
• Rubrik Inc (RBRK) PT Raised to $120 at Cantor Fitzgerald Into Q2 Earnings