Thursday, August 27, 2020 6:13:01 PM
$ROKU Rising on Major Upgrade
ROKU get a BUY upgrade from Citi with a $180 price target.
Highly volatile stock that has struggled to clear $157 in the past, which
if cleared open up a move to $161 short term.
Upgrade details
Citi analyst Jason Bazinet initiated coverage of Roku with a Buy rating and $180 price target. Over the past few years, the market has valued an active Roku account at $330, higher than the $130 the economic value per account, Bazinet tells investors in a research note. The disparity reflects the market's view of active account economics improving augmented by account growth, says the analyst. Applying $330 of economic value per subscriber to his active account 2022 forecast of 70M suggests Roku's equity will be worth $160 at the end of 2021, $180 at the end of 2022 and $200 at the end of 2023.
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