Vizio price target raised to $9 from $8 at Needham

Needham raised the firm’s price target on Vizio to $9 from $8 and keeps a Buy rating on the shares. The company represents a pure-play in CTV ad growth and has the best CTV data in the business, which is more valuable every day, the analyst tells investors in a research note. Vizio’s pivot toward advertising and data sales should improve its ROICs, as long as it doesn’t invest its ad revenue margins into lowering its TV prices, the firm added.