Roku initiated with a Neutral at Piper Sandler

Piper Sandler analyst Matt Farrell initiated coverage of Roku with a Neutral rating and $65 price target. The analyst wants to see “clearer line of sight on the profitability front” before recommending the shares. In addition, there is a lack of clarity in the bounce back of the TV advertising market, the analyst tells investors in a research note. The firm is also in “wait-and-see mode” regarding the company’s decision to launch its Roku branded TVs. With that said, there is no denying the Roku’s leading position in the TV streaming operating system market, adds Piper.