NEW YORK ( TheStreet) -- Shares in Barnes & Noble (BKS - Get Report) have been rising recently after a Barron's report saying that the company's share price will more than double over the next year. The Barron's report, "Beware a Low Bid for Barnes & Noble," was published March 2, 2013, and gives the company a price target of $38 -- quite an increase from $16.33 this morning.To put that number in perspective, the book seller was under $14 a share toward the end of February and trading at just $15.63 when the markets closed on Friday, March 1. As of the close of trading that next Monday, shares stood at $16.46, marking an increase of roughly 5% over a couple of days. This from a company whose one-year price target currently averages $18.40.
Barnes & Noble at $38. Really?
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts