Roku price target raised to $65 from $60 at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne raised the firm’s price target on Roku (ROKU) to $65 from $60 and keeps an Underweight rating on the shares. Shares are up about 35% since the company reported Q2 earnings, notes the analyst, who attributes the outperformance to a growing view that a strong ad market and the implementation of growth initiatives create upside to expectations and accelerating growth into 2025. However, the firm views that optimism as “premature” and sees strong and rising competition as an underappreciated risk, the analyst tells investors.