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Analyst Likes Amazon, Logitech, Turtle Beach After Fortnite World Cup

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Analyst Likes Amazon, Logitech, Turtle Beach After Fortnite World Cup

After the success of the Fortnite World Cup Finals in New York over the weekend, D.A. Davidson said the battle royale game franchise is "alive and well.

The event is a positive data point for the emergence of esports, analyst Tom Forte said in a Monday note. 

The analyst said he recommends investors purchase shares of Turtle Beach Corp (NASDAQ: HEAR), Logitech International SA (NASDAQ: LOGI) and Amazon.com, Inc. (NASDAQ: AMZN) as plays on the sector. 

The Fortnite World Cup solidifies the view that esports represents a secular shift and is a global phenomenon, not a fad, Forte said.

The "Fortnite" franchise is durable and has secured a place in a growing esports universe, he said. 

Kyle "Bugha" Giersdorf took home the singles division championship and the $3-million prize at the tournament.

Overall, Epic Games offered $30 million in prize money at the Fortnite World Cup Finals. 

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Latest Ratings for HEAR

DateFirmActionFromTo
Mar 2019MaintainsOutperformOutperform
Aug 2018MaintainsOutperformOutperform
Aug 2018MaintainsOutperformOutperform

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Posted-In: Bugha DA Davidson Epic Games eSportsLong Ideas News Analyst Ratings Trading Ideas Best of Benzinga

 

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