Even though B&N’s second quarter profits fell 5 percent, which was better than initial predictions, some analysts remained unimpressed with the retailer’s report, not to mention share prices falling 84 cents (or 4%) to $20.11 in yesterday’s trading. Standard & Poor’s Equity Research Retail Analyst Michael Souers kept his $16 price target and “strong sell” recommendation on the shares: “Facing long-term challenges such as a secular decline in adult readership levels as well as an increasing shift toward eBooks, we think shares are overvalued,” he said in a note. B&N also delayed updating its annual forecast until approximately October 1, […]
