KeyBanc analyst Justin Patterson raised the firm’s price target on Roku (ROKU) to $130 from $128 and keeps an Overweight rating on the shares. The firm says Roku’s Q4 results reinforced the company’s advertising business is scaling and margins are inflecting. With Roku transforming into a high-teens Platform revenue grower with improved GAAP EPS and free cash flow profitability, KeyBanc believes shares now have valuation support and the potential to attract broader investor sponsorship.
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