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Fly News Breaks for January 15, 2019
CTRL
Jan 15, 2019 | 14:55 EDT
Needham analyst Richard Valera maintained a Buy rating and $32 price target on Control4 after the company's "upbeat" presentation at Needham's Growth Conference. The analyst noted that Control4's management said it remained comfortable with its prior 10% target growth rate heading into 2019, while acknowledging the potential for growth to potentially dip below this level in any given quarter. While Valera expects the stock market to take a "show me" attitude toward the company in 2019, given the challenging fundamentals of the new construction market, he believe if management can deliver on their target of double-digit percentage top-line growth that Control4 shares could see meaningful upside from current levels.
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