Roku Inc (ROKU) saw its stock price surge by 5.16% during the intraday session on Thursday, reflecting strong investor confidence following positive analyst actions.
The rally was fueled by Jefferies upgrading Roku's rating from "Hold" to "Buy" and raising its price target to $135 from $100, citing potential revenue growth exceeding 20% year-over-year. Wedbush also increased its price target to $130 from $115, maintaining an "Outperform" rating. Analysts highlighted factors like demand-side platform ramps, political tailwinds, and subscription momentum as key drivers for Roku's growth.
"Roku screens as one of the cleanest topline revision stories in internet, with both near-term and long-term revenue upside," Jefferies noted in its report. The stock has already gained about 42% year-to-date, and the latest upgrades further bolstered investor sentiment.
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