October 10, 2020 | technology | No Comments
Momentum appears to be firmly in Roku’s (ROKU) favor right now. The OTT leader’s stock closed the week at an all-time-high, and one analyst once again raised his bull-case price target for the stock.
Deutsche Bank analyst Jeffrey Rand reiterated a Buy rating on Roku shares and increased the price target from $185 to $235. (To watch Rand’s track record, click here)
What’s behind the positive assessment? Rand’s explanation is simple and clear.
“We have become more positive on Roku as consumers continue to stream more content due to the pandemic and advertisers appear to be spending again after pausing/delaying advertising in 2Q,” the analyst said. “Additionally, we believe concerns about Roku losing its role as the go-to platform for all content have diminished with the agreement of a deal with NBC/Peacock and we continue to believe a deal with HBO Max gets worked out in the