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Fly News Breaks for August 19, 2019
SONO
Aug 19, 2019 | 07:55 EDT
As previously reported, Raymond James upgraded Sonos to Strong Buy from Market Perform and established a $19 price target. Analyst Adam Tindle sees a "free option" on Sonos' product roadmap over the next few quarters as the company scales beyond its existing markets. Tindle is encouraged by early IKEA partnership checks and thinks it could "prime the pump" for future Sonos purchases. The analyst anticipate further product announcements, one potentially at the end of August, that will further scale Sonos "outside the home."
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