Roku upgraded to Buy from Underperform at BofA

BofA upgraded Roku to Buy from Underperform with a price target of $85, up from $45. The company is performing better than the broader advertising market, which remains weak, as ad spending across some verticals is bottoming out, the analyst tells investors in a research note. The firm believes Roku’s new partnerships with media networks can improve its access to advertisers. It now sees a path to revenue and margin improvement for the company.