Citi analyst Jason Bazinet downgraded Roku to Neutral from Buy with a price target of $100, up from $75. The analyst sees scope for Roku’s revenues to reaccelerate in 2024. However, given the 120% run-up in the shares year-to-date, the firm believes this is largely priced into the equity. As such, Citi sees limited upside from here and downgrades the shares on valuation.
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