Goldman Sachs Upgrades RadioShack Corp. (RSH) to Conviction Buy
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Price: $0.24 --0%
Rating Summary:
0 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
0 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Goldman Sachs upgraded RadioShack Corp. (NYSE: RSH) from Neutral to Conviction Buy with a price target of $18 (from $17), suggesting 29% upside.
The firm sees an attractive entry point and they expect earnings trends to accelerate off recent trough levels. The company's addition of wireless carrier Verizon, replacing T-mobile, "broadens its market opportunity substantially, and should drive reacceleration in wireless sales trends, overall same-store sales growth, and earnings growth."
Catalysts for the stock: The release of iPhone V later this year; the addition of Verizon to RSH stores in mid-September; the passing of challenges related to a change in Sprint’s upgrade policy.
The firm raised 2011 EPS to $1.61 from $1.57, 2012 to $2.02 from $1.87 and trimmed 2013 to $2.22 from $2.28.
For more ratings news on RadioShack Corp. click here and for the rating history of RadioShack Corp. click here.
Shares of RadioShack Corp. closed at $13.92 yesterday.
The firm sees an attractive entry point and they expect earnings trends to accelerate off recent trough levels. The company's addition of wireless carrier Verizon, replacing T-mobile, "broadens its market opportunity substantially, and should drive reacceleration in wireless sales trends, overall same-store sales growth, and earnings growth."
Catalysts for the stock: The release of iPhone V later this year; the addition of Verizon to RSH stores in mid-September; the passing of challenges related to a change in Sprint’s upgrade policy.
The firm raised 2011 EPS to $1.61 from $1.57, 2012 to $2.02 from $1.87 and trimmed 2013 to $2.22 from $2.28.
For more ratings news on RadioShack Corp. click here and for the rating history of RadioShack Corp. click here.
Shares of RadioShack Corp. closed at $13.92 yesterday.
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