Roku Price Target Raised To Street-High $375 From $220 At Citi

Citi analyst Jason Bazinet raised the firm's price target on Roku (ROKU) to $375 from $220 and keeps a Buy rating on the shares.

The analyst points out that the new target is a high on the Street. Bazinet sees three potential catalysts for Roku shares: a new distribution agreement with Discovery's streaming service, a new distribution agreement with HBO Max, and additional inroads in the international market. His new enterprise value per active Roku account is $619.

The higher figure uses Platform margins only since, in the long-run, the majority of Roku's revenues and cash flow will likely come from the Platform side of the business, Bazinet tells investors in a research note.


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