Shares of video streaming platform Roku (NASDAQ: ROKU) climbed sharply higher on Tuesday, driven primarily by an analyst's decision to boost his 12-month price target for the stock from $275 to $414. The analyst thinks the company is set to benefit from improving average revenue per user thanks to marketers moving their budgets from traditional television to connected TV (CTV).
Here's why the analyst's optimism for this growth stock may make sense.
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Source Fool.com