UPDATE: Morgan Stanley Reiterates Underweight on RadioShack; Lowers PT from $3.60 to $2.00
Morgan Stanley maintained an Underweight rating on RadioShack Corporation (NYSE: RSH) and lowered its price target from $3.60 to $2.00.
Morgan Stanley wrote, “RSH reported a 2Q12 loss per share of $0.21, its second consecutive quarter of losses. We see a near-term positive inflection point as unlikely given trends in the mobile industry that we believe will continue to pressure RadioShack's core business. We remain Underweight and lower our PT to $2.”
RadioShack Corporation closed at $2.48 on Thursday.
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