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BUZZ-Vizio rises as bullish reports stream in after IPO quiet period ends

Mon 19th April, 2021 12:55pm
** Shares of smart TV maker Vizio Holding Corp  VZIO.N  up
3.5% at $24.85 premarket as multiple analysts issue bullish
reports after IPO research quiet period expires
    ** JP Morgan and BofA led underwriting team for VZIO's IPO
of 12.25 mln shares priced at $21 last month  urn:newsml:reuters.com:*:nBw6rKlva
    ** JPM initiates with "overweight" ($30 PT), believes VZIO's
operating system, SmartCast, positions co well to benefit from
shift of TV viewing and advertising dollars from linear to
streaming
    ** Piper starts with "overweight" ($29 PT), says with
business transition from hardware to streaming, expects VZIO's
software segment, "Platform+", to contribute 40% of overall
revenue by 2026, up from just 7% in 2020
    ** Needham starts with "buy" ($30 PT), says what it likes
most is Roku  ROKU.O  has "created a template" VZIO can follow
to "rapidly accelerate its ROIC by adding 65% gross margin
Platform+ revenue to Vizio's 5% gross margin Smart TV sales"
    ** VZIO shares closed at $24 on Fri. Stock has traded in
range of $17.25 (Mar 25 debut) to $25.90

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))
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