{"id":52962,"date":"2023-08-25T12:13:15","date_gmt":"2023-08-25T16:13:15","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/bofa-cuts-vizio-holding-to-underperform-on-consumer-spending-headwinds\/"},"modified":"2023-08-25T12:13:17","modified_gmt":"2023-08-25T16:13:17","slug":"bofa-cuts-vizio-holding-to-underperform-on-consumer-spending-headwinds","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52962","title":{"rendered":"BofA cuts VIZIO Holding to Underperform on consumer spending headwinds"},"content":{"rendered":"
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\u00a9 Reuters. BofA cuts VIZIO Holding (VZIO) to Underperform on consumer spending headwinds<\/span>
\n<\/i>\n<\/div>\n

BofA analysts double-downgraded shares of VIZIO Holding Corp.\u00a0(NYSE:) to Underperform from Buy, with a price target of $6 per share, down from $11 in a note Thursday.<\/p>\n

They told investors that the weak consumer spending backdrop poses headwinds for the company.<\/p>\n

“We see headwinds from a weaker macro environment. The device (TV) side of the business will face challenges from a weaker consumer spending environment, and we cut our device estimates to reflect lower TV unit sales,” they wrote.<\/p>\n

“The Platform+ side of the business faces pressure from lower active accounts (function of TV sales) and a weaker advertising market,” they added.<\/p>\n

The analysts also pointed to the fact that the company’s profitability ramp will be slower as device pricing continues to be aggressive and a recovery in the panel market creates some upside pressure on costs. As a result, BofA expects device margins to remain subdued.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. BofA cuts VIZIO Holding (VZIO) to Underperform on consumer spending headwinds BofA analysts double-downgraded shares of VIZIO Holding Corp.\u00a0(NYSE:) to Underperform from Buy, with a price target of $6 per share, down from $11 in a note Thursday. They told investors that the weak consumer spending backdrop poses headwinds for the company. “We […]<\/p>\n","protected":false},"author":1,"featured_media":2278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-52962","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBofA cuts VIZIO Holding to Underperform on consumer spending headwinds | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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