By Sam Boughedda
Investing.com — Vizio Holding Corp (NYSE:VZIO) stock is on the slide Wednesday despite Barrington initiating coverage of it with a bullish Outperform rating.
Analyst James Goss put a $28 price target on the stock, explaining that the company has established its identity as a marketer of television sets, providing value for price, features, and quality.
Despite this, the stock fell 3.7% at just under $21 on Wednesday.
Goss added that the company is well-positioned to play a role in building channels for its customers to reach a "broad and growing number" of consumers, alongside money-making opportunities such as ad sales.
Following Vizio's mixed third quarter earnings last week, Piper Sandler lowered its price target on the stock to $29 from $31, reiterating its overweight rating.