RadioShack shares fall, analyst removes stock from recommmended list

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Analyst removes RadioShack from recommended list

NEW YORK — Shares of RadioShack Corp. fell on Monday after Goldman Sachs removed the electronics retailer from its recommended list although it still rates the shares a “buy.”

The investor firm said it still sees value in the retailer but “less so than at the time of our recommendation,” it told clients in a note, citing the company’s fourth quarter results missing its forecast.

Shares fell 87 cents, or 3.8 percent, to $22 in afternoon trading. The stock has traded between $7.94 and $23.59 during the past year.

RadioShack, based in Fort Worth, Texas, has struggled in the recession. But the retailer has worked on improving its results by expanding its wireless offerings, including adding T-Mobile to its lineup of carriers in about 4,000 stores in July and nationally rolling out the iPhone.

The stock has been rising in recent weeks, most likely because of speculation the company may be ripe for a takeover, Goldman Sachs analyst Matthew J. Fassler wrote in a note to clients.

He said he still views the company as “the best ‘pure-play’ wireless story in retailing’” because of improved presentations, introduction of products like the popular iPhone and other ventures. But he said the stock has gained sharply since the company slightly missed the firm’s fourth-quarter forecast, “taking some of the edge off its risk/reward profile.”