Roku Inc ROKU is trading lower Wednesday following bearish analyst coverage from Atlantic Equities.
Atlantic Equities analyst Hamilton Faber initiated coverage on Roku with an Underweight rating and announced a $136 price target.
Roku's growth has been led by the provision of the company's operating system to tier two and three U.S. TV manufacturers, according to Faber.
The Atlantic Equities analyst expects the company's growth to slow because he doesn't think the largest TV makers will outsource to Roku. Faber noted that Roku's progress in international markets has also been slow.
Related Link: Atlantic Equities Sees Considerable Downside In Roku - Read Why
Roku offers a streaming operating system that is used not only in Roku's own hardware but in co-branded TVs and soundbars.
ROKU Price Action: Roku has traded as low as $190.23 and as high as $490.76 over a 52-week period.
The stock was down 5.32% at $210.98 Wednesday morning.
Photo: roku Activate from Flickr.
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