Turtle Beach price target raised to $26 from $25 at Roth MKM

Roth MKM analyst Sean McGowan raised the firm’s price target on Turtle Beach to $26 from $25 and keeps a Buy rating on the shares. The company’s Q2 results “comfortably” exceeded the firm’s revenue and adjusted EBITDA estimates, and its management raised its EBITDA guidance, the analyst tells investors in a research note. Turtle Beach revenue growth was driven both organically and by the Q1 acquisition of PDP, the firm adds, also citing the company’s reduced costs, more diversified product line, and higher gross margins.