HomeInvesting NewsPivotal Research boosted its Roku after receiving "encouraging" inflation news

Pivotal Research boosted its Roku after receiving “encouraging” inflation news

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Roku (NASDAQ:ROKU) 

Pivotal Research raised Roku (NASDAQ:ROKU) on Thursday after citing “encouraging” inflation news that made a “soft landing” for the economy more probable.

In a note to clients, analyst Jeff Wlodarczak said, “Against what we view as a more encouraging backdrop and a retrenchment in the valuation, we no longer view ROKU as a fundamental short at current valuation levels and therefore increased our rating to HOLD.” The firm’s $60 price target was left unaltered.

Shares of Roku (ROKU) increased 0.5% in premarket trade to $65.88.

Wlodarczak downgraded Roku (ROKU) to sell last month due to concerns about the state of the economy.

On Roku, analysts are remarkably divided (ROKU). While Wall Street analysts gave it a BUY rating, Seeking Alpha authors gave it an average HOLD rating. In contrast, ROKU is rated as a STRONG SELL by Seeking Alpha’s quant system, which routinely outperforms the market.

Expansion

According to a recent announcement from Roku (ROKU), Metz Blue and TCL are the first partners to launch Roku TV models in Germany. From October 2022, customers will be able to buy a Roku TV model from Metz Blue or TCL in sizes ranging from 32″ to 65″ in HD, 4K, and 4K QLED.

Each Roku TV partner will establish and communicate its own pricing policy.

According to Arthur van Rest, VP International at Roku, “people are shifting more of their entertainment time to streaming, while also watching a considerable amount of broadcast TV. “We are delighted to debut Roku TV in Germany and offer a fantastic experience for both.” “German consumers want the best TV experience possible; they want a system that offers all of their favorite shows, is simple to use and gets them to their desired content as quickly as possible.”

Featured Image – Megapixl © Rafaelhenriquepress

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