Vizio price target lowered to $11 from $16 at Needham

Needham analyst Laura Martin lowered the firm’s price target on Vizio to $11 from $16 but keeps a Buy rating on the shares. Among the "cons" for the stock, the analyst cites the company’s programmatic CTV Ad Tech stack being "weak", with 50% of its total ad revenue coming from the hero banner on its home page which is priced via negotiation rather than via auction. Martin adds however that she is positive on Vizio’s "rapid" ad revenue, profit growth, and M&A upside optionality.