MoffettNathanson Downgrades Roku to Sell, Raises Price Target to $66
Portfolio Pulse from Benzinga Newsdesk
MoffettNathanson analyst Michael Nathanson downgraded Roku from Neutral to Sell but increased the price target from $64 to $66. The adjustment reflects a more bearish stance on the company's stock while acknowledging a slight upside potential from the previous target.
December 15, 2023 | 12:02 pm
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Roku's stock rating was downgraded to Sell by MoffettNathanson, indicating a negative outlook, although the price target was marginally increased to $66.
The downgrade to Sell suggests that MoffettNathanson believes Roku's stock will underperform the market or its sector in the short term. This negative sentiment is likely to influence investors and could lead to a decrease in the stock price. However, the increase in the price target to $66, albeit minimal, indicates a belief that the stock still has some potential to grow from its previous target, which may slightly mitigate the negative impact of the downgrade.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100