Oppenheimer Upgrades Roku, Sets $105 Price Target

Oppenheimer Lifts Roku to Outperform Rating

Roku shares experienced a 2.7% increase in Friday's premarket trading following an upgrade by Oppenheimer. The brokerage raised its rating on the streaming company's stock to Outperform from a previous Perform rating.

Situational Overview

The upgrade comes after a challenging period for the stock, which saw a decline of approximately 25% over the past month. Oppenheimer's renewed confidence is reflected in their new price objective for the company.

Market Impact

In conjunction with the rating upgrade, Oppenheimer has established a price target of $105 for Roku shares. This target suggests significant potential upside from its recent trading levels and signals a positive outlook from the financial services firm.

Summary

The upgrade and new price target provide a positive catalyst for Roku stock after a recent downturn. Investors will be watching to see if this renewed optimism can reverse the stock's negative trend and drive it towards the $105 target.

FAQ

Q: Why did Roku's stock increase?
A: Roku's stock increased by 2.7% in premarket trading after financial services firm Oppenheimer upgraded its rating to Outperform from Perform.

Q: What is the new price target for Roku stock?
A: Oppenheimer set a new price target of $105 for Roku shares.

Source: Investing.com