UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on RadioShack Corporation

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on RadioShack Corporation RSH, and slightly raised its price target from $2.00 to $2.25. Deutsche Bank noted, “3Q12 results below plan. RSH missed 3Q12 on both the revenue and margin lines. Revenues were below expectations due to continued under-performance at the Target kiosks along with lower-than-expected comps at the core stores. Tight iPhone 5 supplies were part of the reason for the sales miss, but gross margins were also below plan despite fewer, lower-margin iPhone sales. This was due to additional overall smartphone penetration and to under-performance at the TGT kiosk.” RadioShack Corporation closed on Tuesday at $2.57.