SoundHound price target raised to $17 from $15 at DA Davidson

DA Davidson analyst Gil Luria raised the firm’s price target on SoundHound (SOUN) to $17 from $15 and keeps a Buy rating on the shares. The company has announced its acquisition of Interactions, a provider of AI powered voice assistants to enterprises, for about $60M in cash with the potential for additional payments contingent on specific revenue milestones, and the firm views the acquisition favorably as it adds major brands for SoundHound to sell into and is expected to be immediately accretive to margins, the analyst tells investors in a research note.