October 7, 2018 / 6:36 PM / 2 months ago

Barnes & Noble shares could have more upside -Barron's

Oct 7 (Reuters) - Shares of Barnes & Noble Inc could still have more upside after a jump in the stock this week on news the bookseller is exploring strategic options, according to Barron’s.

Barnes & Noble is valued at less than four times its projected earnings before interest, taxes depreciation and amortization (EBITDA), compared to six to 10 times for most retailers, the business news weekly wrote.

Nevertheless, Barron’s said the company either “needs a buyer or a new strategy because the current approach hasn’t been working.”

Barnes & Noble shares rose 21.8 percent on Thursday after it announced the strategic review after several parties, including founder-chairman Leonard Riggio, showed interest in buying the bookseller. They closed on Friday at $6.95.

The company did not immediately respond to a request for comment.

Reporting by Joshua Franklin in New York Editing by Nick Zieminski

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