Roku price target raised to $70 from $65 at Loop Capital

Loop Capital raised the firm’s price target on Roku (ROKU) to $70 from $65 and keeps a Hold rating on the shares. The company’s Q3 results beat consensus on all metrics, and the Q4 revenue guidance was ahead of consensus, but Q4 profits guidance was slightly less than expectation, the analyst tells investors in a research note. Loop adds that Roku’s Engagement remained strong with viewing hours up 20%, increases per streaming viewer and The Roku Channel up 80% YoY, also noting that the early indications sees costs increasing only modestly next year, which should lead to another year of margin expansion.