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Roku Gets a Downgrade... And an Upgrade

Shares of Roku re on the decline again on Friday after Pivotal Research Group initiated coverage on the company with a sell recommendation amid what it sees as a dramatic ramp-up in competition that will erode profits of add-on streaming devices like Roku. In a note initiating coverage, Pivotal analyst Jeffrey Wlodarczak said Comcast's move to free will materially reduce Roku's subscriber growth and average revenue per user opportunities, making the stock "dramatically overvalued," even with its recent plunge. However, in a separate note, Oppenheimer analyst Jason Helfstein reiterated his outperform rating on the stock and lifted his price target amid expectations that Roku can and will offset U.S. competition with an expansion of its international market share. Even with the stream of negative news, Roku shares are still up some 385% this year. Premium Pick: Jim Cramer: The Sobering Dichotomy of the Trade War Is on Display Bull Market Fantasy: LIVE TONIGHT @ 7:15PM EST Action Alerts PLUS peek: How Jim Cramer Knew to Sell Shopify Stock Before Its Recent Plunge Earnings Season on the Way: Why Investors Should Prepare for Earnings Season Now Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below

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