Roku price target raised to $85 from $74 at Loop Capital

Loop Capital analyst Alan Gould raised the firm’s price target on Roku to $85 from $74 and keeps a Buy rating on the shares. The company’s Q2 marked the largest revenue beat since 1Q of 2021, with User count, engagement and EBITDA metrics also ahead of consensus, the analyst tells investors in a research note. The secular shift to streaming is accelerating, and a long Hollywood strike would likely accelerate the trend, the firm adds.