After dour reports last week from stock analysts at Goldman Sachs and Credit Suisse, Barnes & Noble’s stock gets a better assessment today from Alan Rifkin at Bank of America/Merrill Lynch. They have upgraded their assessment of shares to neutral from underperform, with a price target of $19 a share. They write, “while we remain cautious of book industry fundamentals overall, we favorably view recent developments BKS has made to enhance its competitive position.” In their report, they see nook as helping to compete with Kindle; believe that the BN College acquisition can provide sales growth (since so many schools […]
