Stock Track | Roku Soars 5.04% on Tuesday on Bullish Analyst Rating and IP Deal Renewal

Stock Track01-21

Roku Inc's stock (ROKU) soared 5.04% on Tuesday, following positive news from both analysts and a key intellectual property partner.

JMP Securities initiated coverage on Roku with an Outperform rating and a $95 price target. Analysts cited Roku's strong position in the streaming TV market as a key factor behind the bullish outlook.

Additionally, Adeia Inc announced a multi-year renewal of its intellectual property (IP) license agreement with Roku. This deal extends Roku's access to Adeia's media IP portfolio, which plays a role in enhancing consumer experiences for streaming video products and services.

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