Roku Inc. (ROKU) PT Raised to 'Street High' $450 at Macquarie

Macquarie analyst Tim Nollen raised the price target on Roku Inc. (NASDAQ: ROKU) to a 'Street High' $450.00 (from $275.00) while maintaining an Outperform rating.

• We expect a strong Q4 and 2021 outlook from Roku.
• A virtuous circle is forming as recent content and distribution deals tie into OneView.
• We raise our target price to $450; Reiterate Outperform.
• raise 20E EPS from ($0.81) to ($0.59) and our 21E EPS from ($0.48) to ($0.23).

Nolan commented, "Roku has dominated newsflow in recent weeks – surpassing 50m active accounts, acquiring content from the late Quibi, and completing a number of carriage agreements. We think these should all bode well for Roku in Q4 and into 2021."

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