Turtle Beach price target raised to $24 from $18 at Maxim

Maxim analyst Jack Vander Aarde raised the firm’s price target on Turtle Beach to $24 from $18 and keeps a Buy rating on the shares. The company’s Q4 results were accompanis by an announcement of a “material” acquistion of PDP that is significantly accretive, while immediately adding scale, product diversification, and cost synergies, the analyst tells investors in a research note. Turtle Beach management also announced plans to launch a modified Dutch Auction tender on April 10th to purchase up to $30M of common stock at a 25% premium at the low-end to provide shareholders with liquidity and avoid potential share price disruption, the firm added.