Roku price target raised to $81 from $75 at DA Davidson

DA Davidson analyst Tom Forte raised the firm’s price target on Roku to $81 from $75 and keeps a Buy rating on the shares. The company’s Q2 sales and adjusted EBITDA were better than expected while its management remains committed to its path to profitability, the analyst tells investors in a research note. Roku is also diversifying its ad revenue as its expanded strategic partnerships to reach more non-M&E advertisers through Roku City are aiming to drive engagement and subscriptions, the firm adds.