Roku price target raised to $100 from $85 at BofA

BofA raised the firm’s price target on Roku (ROKU) to $100 from $85 and keeps a Buy rating on the shares after the company and Amazon (AMZN) announced a new exclusive partnership that deepens their relationship. Advertisers will have access to the largest authenticated CTV footprint in the U.S. exclusively through Amazon’s demand side platform, notes the analyst, who says the expansion is intended to improve performance, planning and measurement for all advertisers. A key tenet of the firm’s bullish thesis on Roku is predicated on monetizing their existing inventory through their integrations with DSPs, says the analyst, who views this announcement as “another proof point that Roku intends to be more flexible and drive further interoperability within their platform.”