Wolfe Research analyst Peter Supino last night upgraded Roku to Peer Perform from Underperform without a price target. The analyst now sees less downside risk "for arguably the best in-class gatekeeper to streaming TV." Roku’s subscriber net addition forecasts now look realistic despite growing competition, the analyst tells investors in a research note. While platform margin concerns remain, the company’s advertising improves monetization, writes the firm. Wolfe cites improved confidence in its 2023 and 2024 advertising, net add, and expense forecasts for the upgrade.
Published first on TheFly
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