Roku Leads US Connected TV Market as Competition Grows, UBS Says

MT Newswires Live11-23 05:02

Roku (ROKU) is well-positioned with the dominant operating system in the connected TV market, particularly in the US, though rivals loom, UBS Securities said Friday in a report.

With 50% of the market share in US streaming households, Roku benefits from the shift in ad spending to streaming from traditional television, UBS said.

The company faces competition from major tech platforms and TV original equipment manufacturers such as Samsung and LG with these rivals viewing control of TV operating systems as "a major strategic initiative," UBS said.

"Deep-pocketed tech platforms and TV OEMs present significant competitive risks in the TV OS market despite Roku's first-mover advantage," the report said.

UBS initiated coverage of Roku's stock at neutral with a price target of $73.

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