KeyBanc analyst Justin Patterson raised the firm’s price target on Roku (ROKU) to $116 from $115 and keeps an Overweight rating on the shares. The firm notes Roku’s 2Q results were better than expected, reflecting strength in advertising and contribution from the Frndly TV acquisition. With the advertising ramp still in the early innings, KeyBanc remains confident that Roku can sustain mid-teens revenue growth and drive meaningful margin expansion.
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