Roku's (ROKU) 2024 results and 2025 outlook demonstrate its focus on expanding profitability as it continues to grab market share, Wedbush said in a note Friday.
The company is also "well-positioned" as a platform as advertisers are switching to shoppable ad integration on connected TV, analysts led by Alicia Reese added.
Investors are likely to "reward" Roku for adopting a balanced strategy as it expands operations globally, and grows its platform and The Roku Channel's ad capabilities, all while retaining "expense discipline" to increase free cash flow, the analysts said.
"We expect Roku to benefit from rising ad demand, driven by its new DSP partnerships, new high-quality inventory, improved targeting, sports-adjacent ads, and various price points to meet advertisers' needs," the note said.
Wedbush raised Roku's price target to $125 from $100 and maintained an outperform rating.
Shares of the company were up over 14% in recent Friday trading.
Price: 99.17, Change: +12.37, Percent Change: +14.25
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