Citizens JMP reiterates an Outperform rating and $95 price target on Roku (ROKU) after tracking the share of Roku TVs presented on the first page of search results for TVs under $500. With Roku reaching more than 50% of U.S. broadband households and the Roku TV OS continuing to be the top-selling TV OS in the U.S., the firm believes Roku’s leading streaming platform is a highly differentiated asset, the analyst tells investors in a research note. Roku is early in improving the monetization of its platform, and the firm sees multiple catalysts across third-party demand partnerships, Home Screen, The Roku Channel, and Roku-billed subscriptions that can drive results going forward. Citizens notes that Roku took share of listings month over month on Amazon (AMZN) and Target (TGT) in May.
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