Guggenheim analyst upgraded Roku stock to "buy", raising price target to $75 on increasing video ad revenue.

Guggenheim analyst Michael Morris upgraded Roku stock to a "buy" from "neutral" and raised his price target to $75, driving a 14.2% increase in its stock on Friday. This bullish outlook is due to Roku's progress in increasing video advertising revenue, ad sales on its home screen, and adoption of The Trade Desk's Unified ID 2.0 audience identity platform. The stock is attractively priced, selling for 2 times forward sales, and the rebound in the advertising market presents a compelling opportunity for Roku and its investors.

August 23, 2024
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