JPMorgan Sees 41 Percent Upside in FuboTV, Remarking Attractive Entry Point

JPMorgan Sees 41 Percent Upside in FuboTV, Remarking Attractive Entry Point
A view of the exterior of the JPMorgan Chase & Co. corporate headquarters in New York City, on May 20, 2015. Mike Segar/Reuters
Benzinga
Updated:

JPMorgan analyst Anna Lizzul initiated coverage of FuboTV Inc (FUBO) with an Overweight rating and a $28 price target, implying a 41.63 percent upside.

FuboTV launched in 2015 and is a live TV streaming platform, providing subscribers access to live sports, entertainment, and news, Lizzul tells investors in a research note.

The analyst sees value in the platform as a sports-centric virtual multichannel video programming distributor service but notes the company operates in a “highly competitive environment.”

While she sees some long-term risks to the business model, Lizzul believes FuboTV shares present an attractive entry point given the 40 percent decline since the Q3 earnings report.

FuboTV reported third-quarter revenue of $156.7 million, up 156 percent year-over-year, beating the consensus of $143.6 million. Advertising revenue was up 147 percent Y/Y to $18.6 million.

FuboTV raised its full-year revenue guidance from $560 million–$570 million to $612 million–$617 million, above the consensus of $577.7 million.

By Anusuya Lahiri © 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.