Singing Machine initiated with a Buy at Ascendiant
The Fly - Nov 13 04:54 EDT
Ascendiant analyst Edward Woo initiated coverage of Singing Machine with a Buy rating and $4 price target. Singing Machine is a leader in the development and sale of consumer karaoke equipment, accessories and music, the analyst tells investors in a research note. The firm sees large growth opportunities for the company's "market leading" karaoke products and believes strong growth over the next year will drive the stock.