Roku price target raised to $85 from $75 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Roku to $85 from $75 and keeps an Outperform rating on the shares as Roku now closer to selling ads through 3P DSPs. The firm expects the company to focus on direct integrations with larger DSPs, bypassing SSPs, focusing on preferences of their largest advertisers, who want integrated CTV & retail media network campaigns. Given management’s track record of conservative guidance, Oppenheimer thinks investors will look past weaker Q1 revenue guidance.