Roku price target raised to $102 from $100 at DA Davidson

DA Davidson analyst Tom Forte raised the firm’s price target on Roku to $102 from $100 and keeps a Buy rating on the shares. The analyst cites the company’s workforce reduction and cost cuts announced yesterday along with its update for Q3 calling for better-than-initially-expected sales and profits. DA Davidson adds that it is “encouraged” by Roku’s continued efforts to rightsize its cost structure and remains confident in its ability to achieve positive adjusted EBITDA in FY24.