Morgan Stanley upgraded Sonos (SONO) to Equal Weight from Underweight with a price target of $17, up from $11, following the fiscal Q4 report. The firm says Sonos is offsetting tens of millions in tariff costs with pricing actions and supply chain pressure. Meanwhile, the company’s new CEO Tom Conrad has a vision to make Sonos more than an audio system. With the shares not “overly cheap,” Morgan Stanley is only upgrading the shares to neutral.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SONO: