BofA double downgrades Vizio to Underperform on macro concerns

As previously reported, BofA analyst Wamsi Mohan double downgraded Vizio to Underperform from Buy with a price target of $6, down from $11, as the firm sees headwinds from a weaker macro environment weighing on the device side of the business. The firm, which cut its device estimates to reflect lower TV unit sales, also sees the Platform+ side of the business facing pressures from lower active accounts as a function of lower TV sales and a weaker advertising market.