Citi Downgrades Roku Inc. (ROKU) to Neutral, 'Revenue Reacceleration Priced In'
Citi analyst Jason Bazinet downgraded Roku Inc. (NASDAQ: ROKU) from Buy to Neutral with a price target of $100.00 (from $75.00).
The analyst comments "We see scope for Roku’s revenues to reaccelerate in 2024. However, given the run-up in the shares YTD (up ~120%), we believe this is largely priced into the equity. While both our estimates and target price move higher (the latter to $100 from $75), we are moving to the sidelines and downgrading Roku from Buy to Neutral. In short, we see limited upside from here."
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Shares of Roku Inc. closed at $91.25 yesterday.