Wells Fargo analyst Steven Cahall lowered the firm’s price target on Roku (ROKU) to $45 from $51 and keeps an Underweight rating on the shares. The firm thinks advertising-based video on demand trends create 2024 estimate risk, while Walmart’s (WMT) Vizio (VZIO) acquisition creates longer-term EBITDA pressure, the analyst tells investors in a research note.
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