Jefferies lowered the firm’s price target on Sonos (SONO) to $13 from $19 and keeps a Buy rating on the shares. Amid “rising tariff uncertainty,” the firm “preemptively” cut forecasts across its 29 covered software companies. Jefferies’ analysis suggests 15% average stock downside across the group, with most multiple compression at Palantir (PLTR) and the least at Meta Platforms (META). “Until macro conditions clarify, a selective buying approach is needed,” as a broader improvement may wait until the second half of the year, the analyst tells investors in a research note.
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Read More on SONO:
- Sonos tells Bloomberg ‘actively assessing’ implications of tariffs on business
- Morgan Stanley says Dell among IT Hardware names exposed to ‘calamitous’ tariffs
- Sonos abandons plans to launch streaming video player, The Verge reports
- Sonos Announces New $150 Million Stock Repurchase Program
- Sonos Announces Resignation of Chief Commercial Officer
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