Shares of Roku (NASDAQ: ROKU) got a boost on Tuesday, even as the overall market declined. The stock's gain came as Wells Fargo analyst Steven Cahall initiated coverage on the streaming platform specialist's stock with a $215 12-month price target. This target is notably higher than any other analyst's for the stock.
The company is positioned to benefit from the ongoing migration from traditional TV to connected TV (CTV), the analyst argues.
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Source Fool.com