JPMorgan downgrades ‘mispriced’ Vivint Smart Home to Underweight

JPMorgan analyst Paul Coster downgraded Vivint Smart Home to Underweight from Neutral with an unchanged price target of $15. The stock closed Tuesday up $2.70 to $25.65. The analyst cites valuation for the downgrade with the shares up 149% year-to-date. The stock is currently “mispriced,” Coster tells investors in a research note. The analyst believes limited liquidity and thin analyst coverage may account for much of the stock’s “erratic movement.”