Roku Up as Citi Sees Growth Ahead; Netflix Also Higher By

© Reuters.

By Christiana Sciaudone —   Roku (NASDAQ:) rose 12% after Citi initiated the streaming company at a buy.

Roku should continue to benefit from active account growth and growing value per active account, CNBC Pro reported, citing Citi.

The bank initiated Roku with a price target of $180. Shares are trading at a record, above $165. The stock has 10 buy ratings, six holds and two sells, with an average price target of $159.94, with a high of $208. 

Netflix (NASDAQ:), which can be streamed via Roku, was up 11%, close to its record set in July. On Tuesday, Piper Sandler (NYSE:) said a survey showed Netflix leads all video services in subscribers’ intent to keep subscriptions post-Covid (whenever that is), Seeking Alpha reported. The survey showed more than half of subscribers were willing to absorb a price increase. 

The stock has 21 buy ratings, 10 holds and five sells.


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