Seaport Research upgraded Roku to Buy from Neutral with a $74 price target following last week’s Q1 report. The stock’s risk/reward is attractive for a company central to the connected TV advertising market, which should grow advertising in the low-double-digits this year, the analyst tells investors in a research note. The firm says it was not news that Roku is facing some increasing streaming and connected TV advertising competition. Meanwhile, the company has been cutting costs simultaneously, which is driving higher EBITDA estimates, adds Seaport.
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