![]() He’s projecting a 20% upside in the near term and sees Roku’s value tripling by 2023. Why? Because Nollen has seen the writing on the wall in the streaming market. Nollen upgraded Roku this morning from neutral to outperform and lifted his price target to $130 from $110. Well … Macquarie analyst Timothy Nollen has, at least. If you’re a day trader following along at home with the Trade War Cycle indicator, be prepared to sell when we hit the backside of this cycle.Īfter several boneheaded downgrades citing “competition,” the analyst community has finally come to its senses on Roku Inc. This is the flimsy sentiment that is driving the market today. So, we have known “news” of a potential partial trade deal that balances on promises that have been broken previously this year. Here’s your updated Trade War Cycle chart: This is something Trump has promised before … and we all know how that turned out. I would also like to point out that China’s partial trade deal hinges on President Trump not imposing any more tariffs. agricultural products? It’s certainly a nonzero number of times. I even highlighted that President Trump was only interested in deals that were “100% for us.”įurthermore, how many times this year has China promised to buy U.S. Heck, Great Stuff hinted at this “news” yesterday. This “China wants a partial deal” is not news. If this is really why markets are rallying today, I have sorely overestimated Wall Street’s intelligence. That said, Beijing will not budge on major core concessions in the ongoing trade dispute.Īdditionally, negotiators aren’t optimistic about signing a broad trade agreement that would finally put an end to the trade war. Traders are reportedly rallying around news that China will accept a partial trade deal … as long as President Trump imposes no more tariffs.Ĭhina is willing to wheel and deal on agricultural products such as soybeans, and is reportedly offering to increase those purchases to make a deal. The major market indexes are up just shy of 1% as of this writing. The needle on the “Trade War Cycle” moved again this morning.Īfter yesterday’s heavy sell-off on trade fears, did you really expect anything less?
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