Bull Note Boosts Struggling Streaming Stock

Core Viewpoint - Roku Inc's stock has seen a 2.8% increase to $70.80 following an upgrade from Baird, which raised its rating to "outperform" and increased the price target to $90 from $70 [1][2]. Group 1: Analyst Upgrade and Market Sentiment - Baird highlighted that despite Roku's 23% year-to-date decline, there is significant long-term potential that investors are currently overlooking [2]. - The upgrade was supported by industry trends, Roku's strategic innovations, and early performance indicators [2]. - Nearly half of the analysts covering Roku are bullish, but there remains potential for improved sentiment, with 14 analysts still rating the stock as a "hold" or worse [3]. Group 2: Stock Performance and Volatility - Roku's stock has rebounded nearly 20% over the last six months and is up 10.9% in November [4]. - The stock is currently supported around the $70 level, indicating a potential turnaround after a four-day losing streak [4]. - Options for Roku are affordably priced, with a Schaeffer's Volatility Index (SVI) of 43%, ranking in the 5th percentile of annual readings, suggesting low volatility expectations [3].