Roku price target raised to $77 from $60 at Citi

Citi analyst Jason Bazinet raised the firm’s price target on Roku to $77 from $60 and keeps a Neutral rating on the shares. The analyst believes the recent strength in Roku’s equity has been driven by increased confidence in key initiatives to accelerate Platform revenue growth. The firm increased Platform revenue estimates and is now close to consensus. The consensus numbers are reasonable, but Citi does not expect estimates to appreciate materially from here, the analyst tells investors in a research note.