Report: Analyst Upgrades Blockbuster11 Apr, 2006 By: Erik Gruenwedel
The research arm of Citigroup April 10 upgraded shares of Blockbuster Inc. from “hold” to “buy” status.
Citigroup cited the No. 1 video rental company's enhanced rental trends, subleasing opportunities, cost reductions and improved balance sheet for the revised status, according to a Reuters report.
The news sent Dallas-based Big Blue's stock up more than 7% at the market's close.