FuboTV jumps 15% after Needham says rally isn't over yet

Dec. 22, 2020 7:23 AM ETfuboTV Inc. (FUBO)FUBOBy: Clark Schultz, SA News Editor25 Comments
  • Needham boosts its rating on fuboTV (NYSE:FUBO) to Buy from Hold off the 2021 upside drivers it sees for the company.
  • "We believe FUBO will continue to have strong upside momentum into 2021 owing to: a) FUBO is taking share from competitors; b) its Hisense partnership lowers SAC; c) upside from sports betting; d) OTT multiple expansion; e) short covering; and, f) CTV upside," sums up analyst Laura Marting on the bull case.
  • Despite the huge runup in share price since fuboTV's debut in October, valuation is called inexpensive in comparison to OTT comparables.
  • Crucially, Martin and team disagree with the bear thesis around a share lockup next week, saying it expects top holders including management to keep their positions.
  • Adding it all up, Needham boosts its price target on fuboTV to $60 from $30.
  • Shares of FUBO are up 15.00% premarket to $56.80 (new high).
  • FuboTV is in a week-long rally tied in part to buzz over sports betting and sports content deals.

Recommended For You

Comments (25)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.