Janney Says $17/Share Offer for Barnes & Noble (BKS) 'Inadequate'
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Price: $29.92 +6.36%
Rating Summary:
7 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
7 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Analysts at Janney called Liberty Media's (Nasdaq: LINTA) $17 per share offer for Barnes & Noble (NYSE: BKS) "inadequate."
The firm maintains a Buy rating and $20 price target on shares of Barnes & Noble.
Janney believes "this deal would confuse near term spending for long term opportunity," citing Barnes & Noble's eBook platform and this year's bankruptcy of Borders.
Barnes & Noble shares are up 31 percent to $18.49 in pre-market action Friday morning.
The firm maintains a Buy rating and $20 price target on shares of Barnes & Noble.
Janney believes "this deal would confuse near term spending for long term opportunity," citing Barnes & Noble's eBook platform and this year's bankruptcy of Borders.
Barnes & Noble shares are up 31 percent to $18.49 in pre-market action Friday morning.
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