Wells Fargo analyst Steven Cahall downgraded Roku (ROKU) to Underweight from Equal Weight with a price target of $51, down from $77. The analyst thinks Walmart’s (WMT) acquisition of Vizio (VZIO) creates “substantial risk” for Roku. The deal also sets a new connected TV valuation that is well below Roku’s current multiple, the analyst tells investors in a research note. The firm cites the shifting competitive landscape for the downgrade.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ROKU: