Roku stock look especially compelling heading into 2026 thanks to the company’s cost management efforts, according to Jefferies. The investment firm upgraded the streaming platform to buy from hold. It also lifted its price target to $135 from $100, implying upside of 28% from Wednesday’s close. That would be on top of this year’s 42% surge. Analyst James Heaney applauded the company’s budget management. This, combined with momentum in numbers and business fundamentals, could boost shares heading into 2026, he wrote. He added that Roku appears fundamentally different from other internet peers due to its platform remain “undermonetized with plenty of product levers to pull.” ROKU YTD mountain ROKU YTD chart “Stepping back, ROKU has a unique combo of meaningful upside to Street on revenues, management commitment to cost discipline, at a palatable valuation,” Heaney wrote. “With management’s continued focus on cost discipline (MSD % opex growth can support multi-year DD% revs), ROKU offers one of the cleanest revision stories in internet heading into 2026.” Next year, the analyst thinks Roku’s platform revenue could grow 20% year on year. Wall Street currently forecasts Roku’s 2026 platform revenue to rise 15% year over year. Heaney’s 2026 EBITDA bull case has around 25% upside to the Street consensus. “Putting it all together, we don’t think ~25% upside to current Street 2026 EBITDA of ~$565m is a stretch. Alongside any multiple re-rating from ROKU’s improving revenue outlook, we think the revisions potential here sets up for strong stock returns in 2026,” he said.
