Why Roku Stock Slumped on Friday
Shares of Roku (NASDAQ: ROKU) turned lower Friday, declining as much as 6.8%. As of 2:36 p.m. ET, the stock was still down 3.1%.
The catalyst that sent the streaming pioneer tumbling was mixed coverage by a Wall Street analyst.
Citigroup analyst Jason Bazinet lowered his price target on Roku shares from $250 to $225, but maintained a buy rating on the shares, according to The Fly. To put this change into context, his new estimate still represents potential gains for investors of roughly 77% over the coming year, compared with the stock's closing price on Thursday.
Source Fool.com
