Snap One price target raised to $12 from $11 at Truist

Truist analyst Keith Hughes raised the firm’s price target on Snap One to $12 from $11 and keeps a Buy rating on the shares. The company’s Q4 results were slightly above consensus expectations as it successfully managed the residential recession in 2023, with modestly higher EBITDA despite contracting units, the analyst tells investors in a research note. The firm believes that 2024 should see modest growth on easier inventory comparables and could prove conservative once residential activity improves during the year, Truist added.