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Fly News Breaks for December 27, 2018
CTRL
Dec 27, 2018 | 09:20 EDT
DA Davidson analyst Tom Forte kept his Buy rating and $41 price target on Control4, saying the recent 56% decline in its shares from the 52-week highs is "overdone" by not giving sufficient credit to "the company's ability to mitigate both tariff risks and any softness in housing starts". Forte contends that the pullback has produced an "attractive entry point" for the stock that is "incredibly well positioned to leverage shifting consumer demand towards connected home products". The analyst further cites the company's likely accelerating share repurchase program, with Control4 already having repurchased $16M of the $24M capacity allocated through 2019.
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