Why Roku Stock Jumped on Monday

Shares of Roku (NASDAQ: ROKU) were 5.6% higher at noon EST on Monday. One analyst firm reiterated its bullish rating on the media-streaming expert's stock and raised its price target by 23.5%.

Analyst Laura Martin from Needham confirmed her buy rating on Roku's stock, lifting her target price from $255 to $315 per share. Martin cited a handful of closely related market trends, starting with the cord-cutting phenomenon and rising sales of connected TV sets. The COVID-19 pandemic accelerated all of these market shifts, boosting Roku's shareholder value in the long term.

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Source Fool.com