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Fly News Breaks for February 7, 2019
SONO
Feb 7, 2019 | 08:01 EDT
Morgan Stanley analyst Yuuji Anderson said he would be a buyer of Sonos on the stock's post-earnings pullback, citing what he views as its underappreciated opportunity in Amp and new passive speakers as well as its better than expected operating leverage. While high channel inventory exiting December is disappointing, it should be manageable with new product impact ramping through 2019, said Anderson, who noted that January sell-through is tracking ahead of plan. He maintains an Overweight rating and $15 price target on Sonos shares.
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