Turtle Beach price target raised to $25 from $17 at Roth MKM

Roth MKM raised the firm’s price target on Turtle Beach to $25 from $17 and keeps a Buy rating on the shares after its Q4 results and above-consensus guidance accompanying its announced acquisition of Performance Designed Products. The firm states that its prior bullish thesis was rooted in either fundamental improvement in the business or a bid by an acquirer, but the company presented a third way that may result in “far greater value” – a “transformational acquisition” that results in significantly higher revenue and EBITDA, the analyst tells investors in a research note.