Roku upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Roku (ROKU) to Hold from Underperform with a price target of $100, up from $55, following the Q4 outperformance. Roku’s 25% year-over-year Platform growth was well ahead of its guidance as the company executes on third party integrations and improving fill rates, the analyst tells investors in a research note. Jefferies believes the bear case has weakened, saying Roku outgrew many advertising peers in the Q4, its profitability is inflecting, and the company retains multiple tailwinds to growth in fiscal 2025. It sees “better days ahead” for Roku.