Loop Capital analyst Alan Gould upgraded Roku (ROKU) to Buy from Hold with a price target of $100, up from $80. The firm cites expectations that the Amazon.com (AMZN) advertising partnership announced yesterday should begin positively impacting Roku’s financial results starting next year for the upgrade. This development will further strengthen Roku’s position as the leading TV operating system in the U.S., the analyst tells investors in a research note. Loop says the partnership will integrate Roku and Amazon’s logged-in connected TV user bases, representing an estimated 80M households, through the Amazon demand-side platform. Roku contributes its “industry-leading” user base while Amazon “brings its unmatched shopping feedback loop,” the firm contends.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ROKU:
- Sarepta suspends Elevidys shipments, Supernus acquires Sage: Morning Buzz
- Benchmark says Trade Desk has stronger advertiser base than Amazon DSP
- Roku’s Strategic Partnership with Amazon Ads Boosts Growth Potential and Attractiveness for Advertisers
- New Deal with Amazon Sends Roku Stock (ROKU) Higher
- Unusually active option classes on open June 16th