- FuboTV ( NYSE: FUBO ) shares rose in premarket trading even as investment firm Evercore downgraded the streaming entertainment company, citing worries that its growth could moderate.
- Analyst Shweta Khajuria lowered the firm's rating on fuboTV ( FUBO ) shares to in-line from outperform and cut the per-share price target to $3 from $6, noting that in a "challenging" macroeconomic environment, along with additional competition, it's difficult to see how Fubo keeps growing at the same pace.
- "FUBO share price could remain volatile for the foreseeable future, but we believe the trading range will likely cap out at around $1B EV or $4.0 per share," Khajuria wrote in a note to clients.
- Khajuria added she does not believe fuboTV ( FUBO ) will need to do any "meaningful" capital raises this year, but its fiscal 2025 goal of reaching 2M subscribers in North America and $15 to $20 in advertising revenue per aver user could be "aggressive."
- New York City-based fuboTV ( FUBO ) reported fourth-quarter results on Monday that led to a near 14% decline in the stock .
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Fubotv rises even as Evercore downgrades on worries over sustainable growth