Market Overview

UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on RadioShack Corporation After New CEO Announcement

Related RSH
8-K: Radio Shack ENters Agreement For Advisory ANd Interim Mgmt. Services With FTI Consulting, Names Carlin Adrianopoli Interim CFO
Mid-Day Losers From December 11: RadioShack, Lee Enterprises, Karyopharm Therapeutics, Oxford Industries, Comtech
Stocks Spring Back as Oil Turns Green (Fox Business)

In a report published Friday, Goldman Sachs reiterated its Neutral rating on RadioShack Corporation (NYSE: RSH), and slightly raised its price target from $2.60 to $2.90.

Goldman Sachs noted, “RSH announced that it named Walgreen executive Joseph Magnacca as its new CEO effective Feb 11. Mr. Magnacca was last EVP of Walgreen Co., and President of Daily Living Products and Solutions, a post he held since April 2011. He joined WAG after its acquisition of Duane Reade, where he had served as President, following a two-year stint as SVP and Chief Merchandising Officer...We lift our 12-month price target to $2.90 from $2.60, using our risk/reward framework deploying rent-adjusted EV/EBITDAR. We raise our ‘base case' multiple to 7.0X from 6.8X on additional visibility associated with a CEO hire, noting that the valuation model is highly levered given the firm's financial profile. We maintain our Neutral rating.”

RadioShack Corporation closed on Thursday at $3.11.

Latest Ratings for RSH

DateFirmActionFromTo
Aug 2014UBSMaintainsSell
Jun 2014B. Riley & Co.MaintainsSell
Mar 2014BTIG ResearchInitiates Coverage onNeutral

View More Analyst Ratings for RSH
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings

 

Related Articles (RSH)

Around the Web, We're Loving...

Get Benzinga's Newsletters