Roku Stock Upgraded On Ad-Supported Streaming Video Growth [Investor's Business Daily]
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Source: Investors Business Daily
Related news Streaming video platform Roku ( ROKU ) is well positioned to benefit from the growth of advertiser-supported internet video, a Wall Street firm says. Roku stock received a bullish endorsement late Thursday from RBC Capital Markets. RBC analyst Mark Mahaney upgraded Roku stock to outperform from sector perform. He raised his price target on Roku stock to 70 from 48. Roku stock initially jumped on the news. But in midday trading it fell 2.2%, near 55.80, on the stock market today . It hit a record high of 77.57 on Oct. 1 before falling during the recent stock market correction . "Long term, we view Roku as one of the best plays on ad-supported OTT (over-the-top)" internet video, Mahaney said in a report to clients. Roku is best known for selling set-top boxes and dongles for accessing internet video services such as Netflix ( NFLX ) and Hulu. It competes in that space with Amazon.com ( AMZN ), Apple ( AAPL ), Alphabet 's ( GOOGL ) Google and others. Roku also licenses a sma
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