Roku Inc's stock soared 5.06% on Monday during the intraday trading session, fueled by analysts upgrading their ratings and raising price targets for the streaming platform company in anticipation of strong holiday sales.
Baird analyst David Shafer upgraded Roku to Outperform from Neutral and raised his price target to $90, up from $70 previously. Shafer cited expectations for robust Black Friday and holiday demand for Roku's streaming devices and smart TVs, driven by attractive discounts and promotions.
Roku announced a range of Black Friday deals starting November 21, including discounts of up to $700 on its high-end Pro Series TVs, the Roku Streaming Stick 4K for under $30, and the Roku Wired Video Doorbell & Chime for $40 off. The company is also offering promotional subscriptions to streaming services like Peacock Premium and Apple TV+.
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