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Fubo TV surged over 7% in morning trading

Tiger Newspress2021-06-11

(June 11) Fubo TV surged over 7% in morning trading. Days ago, Fubo launched its app on LG Electronics' webOS smart TV platform in the U.S. But outlook not yet carefree.

A streaming service with a strong focus on sports, FuboTV (FUBO) recently announced it would be offered on LG SmartTV’s in the U.S., increasing its customer base and brand awareness. (SeeFUBO stock analysison TipRanks)

Publishing on a report on the matter,Darren Aftahiof Roth Capital Partners wrote that integration with LG “should help it grow top of funnel consumer awareness.” Aftahi maintained a Buy rating on the stock, and declared a price target of $42.

Aftahi explained that consumers with LG SmartTV’s will have immediate access to free trials of FuboTV, which will be promoted for user download. This is significant as LG currently already holds about a 12% market share in the U.S. It is important to note, however, that the LG deal will only apply to models of the years 2018 through 2021.

The company has been making headway as of late, but it is not without its risks, details Aftahi. FuboTV relies heavily on sports content, and any sort of stoppages in the sports world will severely disrupt its outlook on growth. Furthermore, as big-ticket events such as the Olympics were cancelled last year, similar instances occurring will directly impact subscriber growth.

The analyst was also concerned about sports streaming offerings from Youtube TV and Hulu, as well as other large service providers mounting serious competition. If Fubo is unable “to differentiate its service, attract, continually engage and retain users” its outlook will be impacted for the worse.

On TipRanks, FUBO has an analyst rating consensus of Strong Buy, based on 6 Buy and 1 hold ratings. Theaverage analyst FUBO price targetis $38.86 per share, reflecting a potential 12-month upside of 29.2%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment91

  • Des79
    ·2021-06-14
    Fubo smart move. This will move them to international market. ???
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  • mummumtumtum
    ·2021-06-13
    This is a crowded space
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  • 老鼠林
    ·2021-06-13
    again pls
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    • Xkuanx
      Good
      2021-06-13
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  • octa8
    ·2021-06-13
    [強] 
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  • ProLim
    ·2021-06-13
    Post
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    • Darious
      nice
      2021-06-13
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  • MistaVista
    ·2021-06-13
    good
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  • DJBoy
    ·2021-06-12
    Having a good run recently 
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  • Nelson123
    ·2021-06-12
    totally unprecedented
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  • ITNerd
    ·2021-06-12
    Like and comment please 
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  • Caliskan
    ·2021-06-12
    Hi
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  • kai凯
    ·2021-06-12
    Wew
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  • MIe
    ·2021-06-12
    Strong focus and specialty on sports streaming and gaming ~ differentiation and revenueupside 
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  • replaygoh
    ·2021-06-12
    Good sign
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  • ken26ksh
    ·2021-06-12
    Awesome, hope everyone here wins ??????
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  • ct7825
    ·2021-06-12
    Nice
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  • 再等等吧
    ·2021-06-12
    [Observation] 
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  • VL505
    ·2021-06-12
    Fubo. Up!
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  • IZLIN
    ·2021-06-12
    Reply
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    • simplydkamReplying toIZLIN
      Replied
      2021-06-14
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    • Meow17Replying toIZLIN
      It's so hot, where got cool?
      2021-06-13
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    • IZLIN
      [Cool]
      2021-06-12
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    View more 1 comments
  • FrickL
    ·2021-06-12
    Too late to buy?
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    • edgetrader
      SomeMore upside
      2021-06-12
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  • ACECHUA
    ·2021-06-12
    Great
    Reply
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