Analyst Michael Pachter of Wedbush reiterated a Buy rating on fuboTV (FUBO – Research Report), with a price target of $5.00.
Michael Pachter has given fuboTV a Buy rating due to a combination of factors including the company’s comprehensive content offering and its potential path to profitability. Pachter believes that the recent sell-off of fuboTV’s stock is an overreaction to the news of a new competing sports app by Disney, Fox, and Warner Bros. He argues that fuboTV’s service, which includes 175+ channels, offers a substantial amount of content compared to the new sports bundle, making its $80 price point competitive against the anticipated $50+ for the competitors’ more limited offering.
Moreover, Pachter suggests that fuboTV’s strategic focus on advertising revenue growth and cost management positions the company favorably for future profitability, potentially ahead of its FY:25 target. He acknowledges the challenges fuboTV faces, such as high content costs and competitive pressures, but notes the company’s efforts in cutting costs and enhancing the attractiveness of its service. The report sets a $5 price target, reflecting the upside potential he sees for the stock, and considers the current price to offer a compelling opportunity for investors, leading to the reiteration of an Outperform rating.
According to TipRanks, Pachter is an analyst with an average return of -1.9% and a 48.11% success rate. Pachter covers the Communication Services sector, focusing on stocks such as Getty Images Holdings, fuboTV, and Skillz.
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fuboTV (FUBO) Company Description:
Operating as a sports-focused live TV streaming service, fuboTV offers access to over 100 live TV channels, including many of Nielsen’s top ranked networks
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