BUZZ-Roku falls after MoffettNathanson cuts PT, downgrades to 'sell'

Shares of streaming platform Roku ROKU.O fall 3.3% to $80.30 premarket

MoffettNathanson cuts PT by $20 to $55 and downgrades rating on stock to "sell" from "neutral" as brokerage says it believes the market is too optimistic about the co on several fronts

Brokerage says the incoming administration will likely be more constructive on industry consolidation, but the list of potential credible buyers for Roku seems to be devoid of any real names

Roku investors should actually be more concerned about Walmart's WMT.N recent acquisition of Vizio, as the deal poses a near-term risk of retail share losses - MoffettNathanson

Brokerage had upgraded ROKU to "neutral" in October last year

13 of 33 brokerages rate the stock "buy" or higher, 18 "hold" and two "sell" or lower; their median PT is $80 - LSEG

ROKU stock had fallen ~19% in 2024

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))