Here's Why Roku Stock Jumped on Friday
Shares of connected-TV platform company Roku (NASDAQ: ROKU) jumped on Friday after an analyst put a note out for investors. As of 1 p.m. ET, Roku stock was up 9%.
Dozens of analysts follow Roku stock and Jefferies analyst Andrew Uerkwitz joined them today by initiating coverage with a hold rating, according to The Fly. Uerkwitz gave Roku stock a price target of $45 per share, which would imply about 25% downside as of this writing.
On the surface, it wouldn't seem like a hold rating with a price target that low would cause Roku stock to jump. Moreover, Uerkwitz reportedly told investors that Roku is facing challenges in the ad market and he expects monetization to fall -- not encouraging.
Source Fool.com
