UPDATE: Goldman Sachs Reiterated RadioShack at Neutral on Risk/Reward
Goldman Sachs maintained RadioShack (NYSE: RSH) with a Neutral rating and a $2.90 price target.
Goldman Sachs said, "We reduce our earnings forecast to account for weaker sales trends and updated assumptions on how the Target kiosk exit will impact total company financials. … We maintain our 12-month price target of $2.90, based on our risk/reward framework deploying rent-adjusted EV/EBITDA. Our target multiples incorporate optionality on a turnaround. We maintain our Neutral rating, believing that the equity will trade based on perceived potential for viability, with significant volatility along the way."
RadioShack closed at $3.28 on Wednesday.
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