Trade Desk streaming TV OS likely not a near-term threat to Roku, says BofA

After The Trade Desk (TTD) announced Ventura, its streaming TV operating system, or OS, which will be available in 2025, BofA notes that Roku (ROKU) shares were down about 7% yesterday, seemingly on the threat of a new competing CTV OS. However, the firm does not see an immediate negative impact to Roku given that Roku has been competing successfully for years against other established CTV operating systems such as Android TV and Fire TV; it will likely take several years for Trade Desk to establish its relationships with TV makers; and TV OEMs see real value using the Roku OS. The firm reiterates its Buy rating and $90 price target on Roku shares.