JPMorgan raised the firm’s price target on Roku to $100 from $95 and keeps an Overweight rating on the shares. The Q3 revenue upside was driven by further ad spend improvements in certain verticals, the analyst tells investors in a research note. The analyst believes there are still a number of potential positive catalysts ahead, including the Hollywood strikes ending, third-party partnerships ramping in 2024, and ongoing media carriage disagreements, which could accelerate the shift to streaming.
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