Vizio price target lowered to $10 from $12 at JPMorgan

JPMorgan analyst Cory Carpenter lowered the firm’s price target on Vizio to $10 from $12 and keeps an Overweight rating on the shares. The company reported strong Q3 results and guided Q4 in-line with the Street, the analyst tells investors in a research note. The firm says the big news this quarter was that Vizio plans to begin exploring partnerships with other TV makers, that include licensing its SmartCast operating system. This “could be a big deal given” the potential to grow the company’s total addressable market and leverage platform investments, but the connected TV operating system market is highly competitive and Vizio would need to make a pretty compelling offer to get customers, says JPMorgan.