UPDATE: Guggenheim Starts VIZIO (VZIO) at Buy
- Wall Street closes lower on weak telecom stocks despite strong retail earnings
- Walmart (WMT) Gains After Crushing Estimates, Analysts Bulled Up on 'Strong Q1 Results'
- Home Depot (HD) Leaps After Topping Q1 Estimates, Analyst Positive
- Tesla (TSLA) Stuck as It Can't Deliver 10,000+ Cars From Its Fremont Factory Amid Supply Chain Issues - Report
- Warren Buffett's Berkshire Hathaway (BRK-A) Now Almost Out of Wells Fargo (WFC), Invests Further into Verizon (VZ) and Kroger (KR), More Selling than Buying Says Analyst
Guggenheim analyst Michale Morris initiates coverage on VIZIO (NYSE: VZIO) with a Buy rating and a $28 price target.
The analyst commented, "We are initiating coverage of Vizio Holding Corp. (VZIO) with a BUY rating and $28 price target. We believe Vizio is well positioned to capitalize on the streaming video market growth through its powerful combination of high-quality, affordable television hardware and award-winning streaming operating system (OS). We expect the company to continue its account growth (from 12.2mm domestic active) and its advertising partnerships, fueling strong Platform (+~45% 3-year CAGR) and consolidated company (~15%) gross profit growth as detailed within. Over the long term, we believe ongoing investment in OS innovation will position the company for additional global growth opportunities across the connected home. At its current valuation, we see VZIO shares as an attractively priced streaming media investment relative to peers."
Shares of VIZIO closed at $24.00 yesterday.
You May Also Be Interested In
- UPDATE: Wells Fargo Starts CIGNA (CI) at Equal Weight
- UPDATE: Tudor Pickering Starts General Motors (GM) at Buy, 'Firing on All Cylinders'
- WPT Industrial REIT (WIR-U:CN) (WPTIF) PT Raised to $18.50 at RBC Capital
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!