Roku price target raised to $58 from $53 at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak raised the firm’s price target on Roku to $58 from $53 and keeps a Sell rating on the shares. The company reported a better than expected Q2 results, the analyst tells investors in a research note. The firm views the results and competitive backdrop as encouraging but believes the stock’s current valuation “is simply too rich relative to the outlook.”