RadioShack
(RSH:
sentiment,
chart,
options)
shares are up more than 1% at midday after Goldman Sachs gave the shares an upgrade and added RSH to its "conviction list." Goldman raised its rating on the electronics retailer from "neutral" to "buy," and maintained its $20 price target. The brokerage cited the company's "financially savvy management team" for the positive note.
Additionally, Goldman said it's bullish due to "an expectation of smaller declines in Sprint wireless sales in the second-half of 2008; the impact of a new chief merchant and a new senior stores executive...and a prospective resumption of share buybacks, baked into our forecast."
There's ample opportunity for more analysts to follow suit if they so choose. Zacks reports that skepticism reigns on RSH the stock has 7 "holds" and 1 "strong sell," compared to just 1 "strong buy."
Copyright Schaeffer's Investment Research http://www.schaeffersresearch.com