FuboTV To Bear The Brunt Of Higher Legal Costs Against ESPN - Analyst's View
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Laura Martin reiterated a Buy rating on FuboTV Inc (NYSE:FUBO) but lowered the price target to $2 from $3. The analyst maintained fiscal year 2024 estimates but revised fiscal year 2025 projections due to increased marketing costs and higher legal costs from a lawsuit against ESPN. Despite these challenges, FuboTV is seen as an inexpensive way for investors to participate in the shift toward OTT and Streaming TV. The company has strong sports-focused marketing, efficient revenue streams, and potential for increased advertising revenue.
July 05, 2024 | 6:30 pm
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Needham analyst Laura Martin reiterated a Buy rating on FuboTV Inc (NYSE:FUBO) but lowered the price target to $2 from $3. The analyst maintained fiscal year 2024 estimates but revised fiscal year 2025 projections due to increased marketing costs and higher legal costs from a lawsuit against ESPN. Despite these challenges, FuboTV is seen as an inexpensive way for investors to participate in the shift toward OTT and Streaming TV.
The analyst's reiteration of a Buy rating is positive, but the lowered price target and increased costs create a mixed outlook. The company's strengths in the OTT and Streaming TV market provide a counterbalance to the higher expenses.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100