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Fly News Breaks for November 28, 2018
LOGI, HEAR
Nov 28, 2018 | 09:24 EDT
DA Davidson analyst Tom Forte kept his Buy rating and $30 price target on Turtle Beach (HEAR), saying the recent Bloomberg article indicating 200M active Fortnite gamers - up from 125M in June - suggests that its popularity is not a "fad". The analyst believes that this growth should result in "elevated sales of gaming headsets, which should be positive news for Turtle Beach primarily and Logitech (LOGI) secondarily. Forte adds that the initial success of the latest Call of Duty title and Red Dead Redemption 2, which are also games with battle royale playing formats, will sustain demand for the Turtle Beach accessories.
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