Vizio initiated with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne initiated coverage of Vizio with an Equal Weight rating and $13 price target. The analyst sees risk to consensus advertising estimates and has some concern that Vizio lacks the scale to keep up with larger competitors increasingly focused on connected TV. The investments from big tech in smart TV distribution "erodes the economic rent available" to companies of Vizio’s size, Swinburne tells investors in a research note.