Raymond James Ups RadioShack to Outperform
Raymond James upgraded RadioShack (RSH) to outperform from market perform, noting recent news that the company named Julian Day as CEO.
Analyst Budd Bugatch this follows months of wrenching organizational turmoil. He has low confidence in his earnings per share (EPS) estimates due to turmoil around the state of the wireless business, as well as flux in remaining product categories. But he thinks Day has the opportunity to build value by either fixing the business or by finding a buyer for RadioShack. He set a $17 12-month stock price target.