Roku price target raised to $70 from $50 at Truist

Truist analyst Matthew Thornton raised the firm’s price target on Roku (ROKU) to $70 from $50 but keeps a Hold rating on the shares after its Q4 results. The company’s Q4 metrics were in line with its preannouncement, and Q4 Platform and consolidated EBITDA were well-ahead of the "predictably" conservative guidance, only partly offset by slightly weaker Devices, the analyst tells investors in a research note. The firm further states that opening-up to third party DSP and other demand could benefit Magnite (MGNI) as Roku’s primary SSP partner.