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Why Roku Stock Was Up This Morning

TheMotleyFool

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Shares of Roku (NASDAQ: ROKU) opened higher this morning, rising as much as 6%, after getting an upgrade from Wall Street. Many tech stocks have since pulled back and the stock has given up those gains. As of 11:30 a.m. EDT, shares were up less than 1%.

Wedbush upgraded its rating on Roku from neutral to outperform while maintaining the same price target of $475. Analyst Michael Pachter noted that the stock has pulled back meaningfully in recent months, which presents investors with an "attractive" buying opportunity. Roku should continue to benefit from the secular shift of users from linear TV to over-the-top (OTT) streaming platforms, and the company is just starting to expand internationally.

Image source: Roku.

Source Fool.com

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