Citizens JPM analyst Matthew Condon raised his price target on Roku to $110 from $95, while maintaining an Outperform rating on the stock. The analyst believes Roku has more room to run from streaming growth.
The positive outlook is based on the continued expansion of the streaming market, which directly benefits Roku's platform-centric business model. This indicates confidence in Roku's ability to capitalize on the ongoing shift from traditional linear TV to streaming.
This analyst action signals a bullish perspective on Roku's long-term growth potential driven by secular trends in the streaming industry. Increased streaming adoption is expected to translate into higher user engagement and advertising revenue for Roku.
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