Patrick Spence Joins Snap Inc. Board of Directors

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Rosenblatt starts Sonos (SONO) at Buy - 'Sonos is a category leader in a market that should return to growth'

September 20, 2023 11:05 AM EDT

Rosenblatt initiated coverage on audio equipment manufacturer, Sonos, Inc. (NASDAQ: SONO) with a Buy rating and set their 12-month price target on the stock at $20.00 as analysts believe the company is ready for a return to growth.

From our standpoint, Sonos is a category leader in a market that should return to growth, driven by the ease and appeal of multi-room music along with the continued adoption of soundbars. Writes analyst, Steve Frankel.

Sonos primarily focuses on high-end home audio products, which cater to a global market exceeding $20 billion. This market is serviced by... More