Roku Inc. shares (ROKU) are up 2.5% in premarket trading Monday after Needham analyst Laura Martin raised her price target on the stock to $150 from $120. Her new target is the highest listed on FactSet. Martin's view is that Roku is better positioned than Netflix Inc. (NFLX) to benefit from the growth of streaming media. "The vast majority of streaming services to date have chosen to either charge a subscription fee OR give consumers free programming, supported by advertising," Martin wrote. "Roku's focus is on free content, supported by ad dollars. Netflix is competing for subscription dollars." Roku's stock has soared more than 300% so far this year, as the S&P 500 has risen 16%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 12, 2019 08:51 ET (12:51 GMT)
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