In a report published Monday, Morgan Stanley analyst Jay Sole reiterated an Equal-Weight rating on Skullcandy SKUL.
In the report, Morgan Stanley noted, “SKUL is a turnaround story. If new management continues to execute effectively, we see a path to our $0.45 base case FY17 EPS outlook, up from $0.18 this year. However, Apple's acquisition of Beats is a new threat. We think the probability of our $2 bear case playing out has risen. Stay EW.”
Skullcandy closed on Friday at $7.73.
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