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Fly News Breaks for January 8, 2020
SONO
Jan 8, 2020 | 07:37 EDT
DA Davidson analyst Tom Forte reiterated a Buy rating and $20 price target for Sonos (SONO) shares following the The New York Times article that Sonos is suing Google (GOOGL) for patent infringement, saying he is closely monitoring the situation as he believes it creates incremental risk for the stock. Forte tells investors in a research note that he considers the integration of Amazon Alexa (AMZN) and Google Assistant as one of Sonos' key functionalities to its platform, adding that he believes, at the minimum, the lawsuit increases the risk of the stock and, at maximum, could result in the loss of offering consumers Google Assistant.
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