Business

Market Movers

RadioShack stock surges after upgrade

RadioShack has 34,000 employees and 4,660 company-owned stores in addition to dealer and other outlets.

Daniel Acker/Bloomberg News/File 2012

RadioShack has 34,000 employees and 4,660 company-owned stores in addition to dealer and other outlets.

Advertisement

Bank of America Merrill Lynch has done an about-face on RadioShack­ Corp.’s stock, making its “underperform” rating a “buy” and raising the price target 25 percent to $2.50. In past weeks, Dow Jones reports, the company booted its CEO and lost its spot on the S&P MidCap 400, but its market value is just 20 percent of inventory value and it has $1 billion of liquidity.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.