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Fly News Breaks for May 29, 2019
ROKU
May 29, 2019 | 06:30 EDT
Needham analyst Laura Martin raised her price target on Roku to $120 and kept her Buy rating after hosting a "Streaming Panel" event last week. The analyst notes that the participants, which included Pluto TV, FuboTV, and Tubi TV, highlighted "unique advantages" offered by Roku being an OTT "aggregation platform" rather than a single streaming service. Martin further points to Roku's 27M active users, revenue optionality from new Subscription Video On Demand services, and its "unduplicatable premium digital-TV advertising scale." The analyst further believes that because of its "small enough" market cap of $12B, Roku can still be an acquisition target.
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