JMP Securities initiated coverage of Roku (ROKU) with an Outperform rating and $95 price target The firm says the company is well positioned to benefit from the $166B of linear TV advertising spend shifting to connected TV. Roku has multiple catalysts that can drive upward revisions in estimates over the coming quarters, the analyst tells investors in a research note. JMP believes TV remains the largest non-digital medium undergoing online transformation. It likes Roku’s scaled connected TV platform and says near-term competition concerns are overdone.
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