UBS raised the firm’s price target on Roku (ROKU) to $90 from $73 and keeps a Neutral rating on the shares. Roku reported a beat across the board and guided better than expected, with management suggesting the outperformance stemmed from advertising, the analyst tells investors in a research note. New ad products and deepening integration with third party platforms should continue to drive new sources of ad demand while programmatic deals expand the base of buyers, UBS argues.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ROKU:
- Wall Street Cheers Roku’s (ROKU) Earnings Victory with Dual Upgrades
- Roku price target raised to $110 from $90 at Baird
- Roku’s Strong Performance and Promising Future Justify Buy Rating
- Roku price target raised to $115 from $90 at Guggenheim
- Roku price target raised to $100 from $75 at Piper Sandler