Sonos Stock Coverage Initiated With Mix Of Buys And Holds

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XSome are positive on Sonos stock while others are neutral on the maker of premium audio speakers, which went public Aug. 2 at $15 a share.Sonos should benefit from strong customer engagement, growth in the music streaming business and its open platform approach, he said in a report.Those consumer electronics companies saw a strong initial surge in popularity but waned as customers lost interest in their products.Morgan Stanley analyst Katy Huberty initiated Sonos coverage with an equal-weight rating and price target of 20."To maintain differentiation in a crowded $18 billion home-audio market, Sonos must leverage its technology stack to expand into new-use cases for new and existing households," she said in a report.

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