FBR ups price target on Radio Shack as firm begins selling Apple iPhones

New iPod touch 8GB, 32GB & 64GB“Radio Shack (RSH) began quietly selling the Apple iPhone in 10 stores over the weekend, and FBR Capital Markets analyst Stephen Chick reports that ‘initial checks have been surprisingly favorable,'” Eric Savitz blogs for Barron’s.

“The analyst observes in a research note that at least 70% of the stories he surveyed reported selling at least one phone, despite zero advertising and limited in-store signage,” Savitz reports. “He contends, moreover, that the iPhone ‘should raise awareness that RSH is a wireless seller.'”

Savitz reports, “Chick today repeated his Outperform rating on RSH, and lifted his price target to $29, from $26.”

Full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

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