Roku Jumps as It Impresses in Las Vegas

© Reuters.

Streaming television service Roku enjoyed a rally Monday after a Wall Street analyst gave a thumbs up to the company’s presentation at the Consumer Electronics Show last week.

Roku (NASDAQ:ROKU) shares climbed 4.6% in afternoon trading.

Needham analyst Lara Martin wrote that among the takeaways from CES in Las Vegas, she and her team are raising active account estimates for the end of 2019, tied to Disney+ adoption, Briefing.com reported.

Roku will get higher economic share as its U.S. platform grows and the company will benefit from increased ad spending from Walt Disney (NYSE:DIS), Netflix (NASDAQ:NFLX), Apple (NASDAQ:AAPL) and others as the “DTC Customer Acquisition War” heats up, Martin added.

Also in the sector, Netflix (NASDAQ:NFLX) rose 2.9%.

Last week J.P. Morgan said it was bullish on subscribers for Netflix (NASDAQ:NFLX) following an update of its model.

“Net-net, we come away with increased confidence in Netflix’s multi-year international growth potential, and we are raising our longer term global paid streaming subscriber estimates,” J.P. Morgan said. “We now project 300 (million) global streaming subs in 2024.”