Roku price target raised by $30 at Citi, here’s why

Citi analyst Jason Bazinet raised the firm’s price target on Roku to $110 from $80 and keeps a Neutral rating on the shares. The analyst believes there is scope for Street estimates for Roku’s Platform revenues and Platform gross margins to move higher. Platform revenues should rise on easy compares while Platform gross margins should move higher as content amortization costs slow and costs normalize post the Q3 restructuring, the analyst tells investors in a research note.