BUZZ-Roku falls after MoffettNathanson cuts PT, downgrades to 'sell'

Reuters
01-10

** Shares of streaming platform Roku fall 3.3% to $80.30 premarket

** MoffettNathanson cuts PT by $20 to $55 and downgrades rating on stock to "sell" from "neutral" as brokerage says it believes the market is too optimistic about the co on several fronts

** Brokerage says the incoming administration will likely be more constructive on industry consolidation, but the list of potential credible buyers for Roku seems to be devoid of any real names

** Roku investors should actually be more concerned about Walmart's recent acquisition of Vizio, as the deal poses a near-term risk of retail share losses - MoffettNathanson

** Brokerage had upgraded ROKU to "neutral" in October last year

** 13 of 33 brokerages rate the stock "buy" or higher, 18 "hold" and two "sell" or lower; their median PT is $80 - LSEG

** ROKU stock had fallen ~19% in 2024

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; ))

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