Roku (ROKU) Reiterated at Market Outperform by Citizens: 'Strategic Value Increasing'

Citizens analyst Matthew Condon reiterated a Market Outperform rating and $160.00 price target on Roku Inc. (NASDAQ: ROKU).

The analyst commented, "We reiterate our Market Outperform rating and $160 price target. With Roku reaching 50%+ of broadband households and capturing 46% of U.S streaming hours in August (per Comscore), we continue to view it as a highly differentiated asset, with its strategic value increasing as streaming consolidation accelerates. Leveraging its leading streaming position, we see multiple growth catalysts over the next several years, including third-party DSP partnerships (notably Amazon), premium subscription growth, continued engagement growth on The Roku Channel, growing adoption of the Roku Ads Manager, and ramping international monetization. In combination with these top-line catalysts, we expect continued cost discipline going forward and we believe $1B+ of FCF is possible over the next several years. As a result, we continue to recommend shares at current levels."

For an analyst ratings summary and ratings history on Roku Inc. click here. For more ratings news on Roku Inc. click here.

Shares of Roku Inc. closed at $95.20 yesterday.

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