Roku price target raised to $67 from $65 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Roku (ROKU) to $67 from $65 and keeps an Underweight rating on the shares. Q3 results and Q4 guidance were ahead of expectations, driven by political advertising, price increases from SVOD platforms, and early benefits of third-party DSP partnerships, the analyst noted. However, tough comps from political and slower third-party DSP contributions lead the firm to see risk to accelerating platform revenue growth next year within an “increasingly competitive CTV industry,” the analyst tells investors.