Roku price target raised by $19 at BofA, here’s why

BofA raised the firm’s price target on Roku to $114 from $95 and keeps a Buy rating on the shares. The firm sees several tailwinds that can drive revenues above consensus estimates – including higher M&E revenues, higher fill rates, higher advertising revenues, continued expansion in international markets and diversifying to other verticals – and notes that its revenue estimate for FY24 remains higher than the Street view.