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Fly News Breaks for August 16, 2019
LOGI, HEAR
Aug 16, 2019 | 09:44 EDT
DA Davidson analyst Tom Forte keeps his Buy rating on Turtle Beach (HEAR) and Logitech (LOGI) with unchanged price targets of $26 and $58 respectively, saying investors should purchase the shares after the latest round of videogame industry data from NPD. The analyst notes that while accessory spending declined 12% in July, year-to-date spending is flat, which is "favorable" considering the tough comparison in the industry from last year's Fortnite craze. Forte further notes that Madden '20 was the best selling videogame in July and should be a catalyst for more headset sales given its "highly interactive" features.
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