Roku, Inc. (ROKU) remains a strong contender in the streaming TV market, with BofA Global Research reiterating a "Buy" rating and maintaining a price objective of $90, based on 2.5x EV/2025 revenue estimates. As of November 21, Roku's stock closed at $68.68, with a slight after-market increase to $69.00. Despite The Trade Desk's announcement of its new streaming TV OS, Ventura, BofA does not foresee an immediate threat to Roku. The report highlights Roku's established market presence, noting, "Roku has been competing successfully for years against other established CTV operating systems such as Android TV and Fire TV."
Roku's OS continues to lead the North American market, holding a 27% share as the top Smart TV OS. The company's strategic partnerships with TV OEMs provide a cost advantage and help drive demand, reinforcing its market position. BofA emphasizes that "TV OEMs see real value using the Roku OS," which supports its long-term growth prospects. The report also notes that Roku's relationship with The Trade Desk remains intact, with no changes to estimates or price objectives.