By Dhirendra Tripathi
Investing.com – Vizio Holding (NYSE:VZIO) shares rose more than 1% on Monday, bolstered by bullish calls made by as many as seven analysts who think the company is well-positioned to capitalize on the fast-growing video-streaming market.
The average of the price estimates put out by the seven firms is $30, suggesting a 22% upside from current levels. Vizio, which made its public debut on March 25, priced 12.25 million shares at $21 each, but the stock plunged 9% to close at $19.10.
Vizio, which started off as a seller of high-definition TVs, has turned its focus to the booming streaming services. Its flagship product, SmartCast, offers subscriptions to Netflix (NASDAQ:NFLX), Amazon (NASDAQ:AMZN) Prime and Disney Plus and helps connect advertisers and customers.
Guggenheim analyst Michael Morris started the stock’s coverage with a buy and a $28 target. He said the company is “well positioned to capitalize on the streaming video market growth through its powerful combination of high-quality, affordable television hardware and award-winning streaming operating system.”
Needham analyst Laura Martin estimates the stock to touch $30 as the company could follow Roku ‘s (NASDAQ:ROKU) model, which is ramping up its platform business by buying popular content to host.
Vizio Gains As Analysts See It Well-Positioned For Streaming
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