Netflix, Roku Jump as More People Shelter at Home
By Kim Khan
Investing.com - Streaming services Netflix (NASDAQ:NFLX) and Roku I(NASDAQ:ROKU) bounced higher Monday, with more people expected to be staying at home as local authorities try to contain the Covid-19 pandemic.
Shares of Netflix and Roku were both up more than 7% in morning trading.
Baird upgraded Netflix to outperform from neutral, pointing to its strength as the market leader.
"We view (Netflix) as one of the preeminent stay-at-home winners, with the current environment enabling it to widen its global lead," Baird said in a research note.
Needham was positive on Roku, maintaining its buy rating and $200 price target, saying that TV viewing and streaming consumption are up double digits.
Analyst Laura Martin prefers Roku over Netflix due to valuation, balance street strength, revenue tied to viewing growing, pricing power and content pipeline, Briefing.com reported.
Meanwhile, Walt Disney 's (NYSE:DIS) Disney+ is set for a wider global rollout tomorrow. Its shares were down 2.9% as it faces dwindling cinema and theme park attendance.
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