Roku Stock: Next Stop, $390?
With the popularity of streaming video continuing to ascend and Roku (NASDAQ: ROKU) firmly entrenched as a market leader, it's not surprising to see Wall Street warming up to the niche pioneer. Truist analyst Matthew Thornton raised his firm's price target on the shares from $367 to $390 today. He has a buy rating on Roku stock.
The move may not seem like much. Thornton's new price goal is just 11% ahead of where Roku closed on Thursday. There are plenty of analysts with higher numbers out there. Daniel Kurnos at Benchmark turned heads in setting a Street-high target of $600 back in February that continues to stand. Thornton's move is still a welcome sight for Roku bulls in what has been a very disappointing month. Shares of Roku have tumbled 18% in August, so even a small victory is a win worth celebrating.
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Source Fool.com
