UPDATE: Imperial Capital Research Initiates VOXX at Outperform on Growth Position

In a report published on Monday, Imperial Capital Research analyst Lee J. Giordano initiated coverage on VOXX (NASDAQ: VOXX) at Outperform with a $14 price target.

In the report, Imperial Capital Research commented, "Through acquisitions and product assortment adjustments, Voxx has transitioned its strategic direction away from commoditized products to become a leading global manufacturer and developer of high-tech, differentiated consumer electronics product lines. This approach, combined with a renewed focus on categories and niches in which it can maintain a leading market share position, provides pricing power, barriers to entry for would be competitors, and healthy growth potential. In addition, we believe its global brand portfolio represents a diverse group of high quality names that consumers recognize and trust, which provides a sustainable competitive advantage."

VOXX closed on Friday at $11.08.