Shares of Voxx International Corp. climbed 15 percent Monday after the maker of audio equipment, and automotive and consumer electronics was raised to a rating of "buy" from "neutral" at Los Angeles brokerage B. Riley & Co.
Stock of Hauppauge-based Voxx added $1.20 to close at $9.21.
Last week, Voxx posted fiscal first quarter net sales of $164.4 million versus $187 million in the year-ago period. It said the impact of the strong dollar and the sale of a distribution business in Mexico accounted for $15 million of the decline.
B. Riley analyst Scott Tilghman set a 12-month price target of $11 on Voxx shares, according to Bloomberg.