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S&P Upgrades Barnes & Noble After Share Drop

Wednesday, 09 June 2010 02:42 PM

Barnes & Noble Inc. shares are fairly priced after a drop, a Standard & Poor's analyst said, upgrading the bookseller to "Hold" from "Sell" on Wednesday.

The bookseller's shares have lost a quarter of their value in the past two months, and even taking into account industry-related challenges, the stock price is fairly valued, S&P analyst Michael Souers said in a note to clients. Traditional booksellers face tough competition from online retailers like Amazon.com and discounters such as Wal-Mart Stores Inc.

Barnes & Noble stock rose 9 cents to $17.25 in midday trading.

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Barnes Noble Inc. shares are fairly priced after a drop, a Standard Poor's analyst said, upgrading the bookseller to Hold from Sell on Wednesday.The bookseller's shares have lost a quarter of their value in the past two months, and even taking into account...
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Wednesday, 09 June 2010 02:42 PM
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