Roku price target raised to $93 from $80 at Wedbush

Wedbush analyst Michael Pachter raised the firm’s price target on Roku to $93 from $80 and keeps an Outperform rating on the shares. Macro headwinds and a weak advertising market have pressured ARPU in 1H, overshadowing Roku’s growing share gains as ad dollars continue to shift from linear TV to digital connected TV, but Roku is poised to return to meaningful profitability as a platform and FAST channel leader as macro trends improve, the analyst tells investors in a research note.