Roku price target lowered to $63 from $67 at Wells Fargo

Wells Fargo analyst Steven Cahall lowered the firm’s price target on Roku to $63 from $67 and keeps an Equal Weight rating on the shares following the Q1 results. The worst is over but Roku is "not out of the woods yet," the analyst tells investors in a research note. Roku is navigating through a tough revenue environment via new demand side platform relationships and cost management, says the firm. Wells believes that while share downside appears limited, revenues will need to reaccelerate to drive real stock upside.