By Christiana Sciaudone
Investing.com — Roku (NASDAQ:) popped 7% after KeyBanc initiated coverage with an overweight rating.
The stock hit a record earlier this month at $185.44 and is currently trading just above $168.
Analyst Justin Patterson set a Street-high price target of $228, StreetInsider reported.
“Our thesis is that Roku is under-monetized vs. peers given audience size,” StreetInsider reported Patterson as saying. “We expect growth in ad-supported channels, and new ad units should drive faster revenue growth than consensus contemplates.”
Shares have 13 buy ratings, five holds and two sells, with an average price target of $169.60, according to analysts tracked by Investing.com.
The company has met or beat earnings estimates since going public in 2017.
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