(Recasts, adds details, share movement)

June 26 (Reuters) - Goldman Sachs trimmed its ad sales view for yellow pages directories publisher R.H. Donnelley Corp RHD.N by 50 to 75 basis points for the rest of 2008, citing weak May ad results for the newspapers.

Weak ad sales would mean slightly lower earnings for the company, said analyst Peter Salkowski, who also cut his price target on the stock to $7 from $8.

Shares of company fell as much as 10 percent to a 52-week low of $3.11 in early trade on the New York Stock Exchange.

In May, the company had said it was on track to achieve its 2008 net revenue view of $2.6 billion to $2.7 billion with a mid single digit fall in advertising sales.

R.H. Donnelley has been plagued by investor concerns about the sustainability of its printed directory business amid a surge of online research.

However, Salkowski said that George Bednarz's appointment to lead sales and operations would help the company boost its digital offerings given his experience in R.H. Donnelley's online local search solutions unit.

The analyst kept his "neutral" rating on the Cary, North Carolina-based company. (Reporting by Savio D'Souza in Bangalore; Editing by Himani Sarkar)