Citi lowered the firm’s price target on Roku to $75 from $110 and keeps a Neutral rating on the shares. The firm is updating estimates to reflect Q4 performance and has also revisited its enterprise value per subscriber analysis to account for its latest forecast and market conditions. Citi believes competitive intensity concerns and weakness within Roku’s media & entertainment vertical “may continue to be an overhang on the equity,” the analyst tells investors.
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