Why Roku Stock Pulled Back Today
Shares of streaming video platform Roku (NASDAQ: ROKU) were down along with many other growth stocks today. But Roku stock also received an upgrade from Wall Street that was more like a downgrade, adding further downward pressure. As of 1:30 p.m. EST, Roku stock was down 5%.
Morgan Stanley is raising its price target for Roku stock. This is typically celebrated by investors -- it's not uncommon to see a stock spike 10% or more with a raised price target. However, Morgan Stanley's isn't much of a compliment. Rather than its previous price target of $200 per share, the firm has raised Roku's price target to $275 per share, according to The Fly.
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Source Fool.com
