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Fly News Breaks for March 12, 2019
HEAR
Mar 12, 2019 | 09:34 EDT
DA Davidson analyst Tom Forte kept his Buy rating and $26 price target on Turtle Beach ahead of its Q4 earnings this week, saying the company's pre-announcement last month was encouraging and its valuation at 10% free-cash flow yield is "attractive". The analyst contends that while lapping the strong 2018 performance driven by Fortnite popularity is a "tall order" for Turtle Beach, a contraction in its headset cycle refresh from 24 months to 18 months could yield upside to his projections.
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