Macquarie raised the firm’s price target on Roku to $90 from $72 and keeps an Outperform rating on the shares. The firm also raised its revenue and adjusted EBITDA estimates on improved outlook. Roku is making moves to better monetize its large installed user base, using better ad tech to improve fill rates, at solid CPM pricing, Macquarie says. The firm also notes that the new Ads Manager self-serve tool makes it easier for smaller e-commerce advertisers to buy on Roku.
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