Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

FuboTV Shares Gain On Analyst Upgrade

  • LightShed Partners analyst Richard Greenfield upgraded FuboTV Inc (NYSE:FUBOto Neutral from Sell and removed his $6.50 price target. The re-rating follows the stock's selloff. 
  • Fubo shares are down nearly 85% in 13 months while the company is sitting on $375 million of cash, Greenfield notes. 
  • The analyst is taking a wait-and-see approach on whether management "abandons their sports betting 'fantasy' to reduce the cash burn in 2022 and beyond." 
  • While FuboTV shares "could very well be a zero" in the next 24 months," the company could also put itself up for sale, mentions Greenfield.
  • Price Action: FUBO shares traded higher by 9.71% at $9.72 on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.