FuboTV Price Target Raised To $55 From $36.50 At Roth Capital

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Roth Capital analyst Darren Aftahi raised the firm's price target on FuboTV (FUBO) to $55 from $36.50 and keeps a Buy rating on the shares.

The stock closed Monday up 26%, or $10.23, to $49.48.

Recent market research from Antenna suggests FuboTV gained share from larger virtual multichannel video programming distributors Hulu and YouTube TV in the months of October and November, growing 100 and 200 basis points, respectively, from September to 19% in November, Aftahi tells investors in a research note. While part of this gain can be attributed to seasonality around the launch of the football season in the United States, the overall market trend of cord-cutting, along with FuboTV's growth initiatives, should lead to a higher subscriber outlook for the first half of 2021, says the analyst.

Aftahi says share gains, categorical growth, further implementation of artificial intelligence to aid acquisition and retention, and the rollout of an initial entree into sports betting expected in fiscal 2021 substantiate his "bullish thesis" on FuboTV.

 

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