Turtle Beach price target raised to $20 from $19 at Oppenheimer

Oppenheimer raised the firm’s price target on Turtle Beach (TBCH) to $20 from $19 and keeps an Outperform rating on the shares. The firm notes the company reported Q3 results in line with consensus estimates. Revenue declined 15% year-over-year and gross margin expanded by about 120bps year-over-year. Management reiterated its 2025 guidance range after a series of changes to its supply chain and pricing during Q3. The gaming accessory market remained in a downturn, though the rate of decline is moderating sequentially. Looking ahead, Oppenheimer anticipates a market recovery in 2026, driven by console cycles and major new game releases.