Sonos price target raised to $15 from $10 at Craig-Hallum

Craig-Hallum analyst Alex Fuhrman raised the firm’s price target on Sonos (SONO) to $15 from $10 and keeps a Hold rating on the shares. The firm notes Sonos reported Q4 results within its prior guidance range last night, and guided to Q1 results that bracketed its estimates and consensus. Craig-Hallum is encouraged that the company is making substantial progress recovering from a problematic app update earlier this year, but believes consensus estimates for the rest of the year are likely too high.