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Shares of Barnes & Noble Fall More Than 9% After Amazon Anno

Financial News Network
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September 29, 2011 AT 12:58 PM
After the announcement of Amazon's new Kindle Fire, Barnes and Noble's (NYSE:BKS) share fell more than 9% since Amazon's latest tablet challenges the Nook's color by $50.Alongside the new announcement of the Kindle Fire, the company announced the price reduction of its eInk Kindle to $80 from $119 while Barnes & Noble's Nook Simple Touch sells for $139.Barnes & Noble (NYSE:BKS) has a potential upside of 30.8% based on a current price of $12.42 and an average consensus analyst price target of $16.25.