A hidden value stock: Barnes & Noble

Whitney Tilson, the co-founder of the T2 Partners, is a very successful value investor. When he speaks, I listen. A while ago, I saw he was discussing Barnes & Noble (BKS) on CNBC and said that at the price of around $11, it had a potential to go up over 300%. They were long this stock. Here you can see more details about his thoughts.
In a nutshell, BKS has 3 core businesses: 1) the Retail bookstores, which is dying and bleeding  2) the college bookstore business, which is stable, and 3) the Nook eReader platform which sells the devices and digital content. The Nook is really its hidden gem, which has a 25% share of  the eBook market, No 2 behind Amazon. According to Tilson, its book value is around $11, meaning there is little risk to see it go down much further. The market seems to agree with him. It has come down several times in the past year but always bottomed around $10-12. If you have patience with a long-term perspective, BKS may be a good value stock to consider. I haven't got in but am thinking to use the current market correction to get some BKS.