12 Best Streaming Service Stocks to Buy According to Analysts

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7) fuboTV Inc. (NYSE:FUBO)

Average Upside Potential: 17%

Number of Hedge Fund Holders: 9

fuboTV Inc. (NYSE:FUBO) operates a live TV streaming platform for live sports, news, and entertainment content. Michael Pachter, an analyst from Wedbush, reiterated a “Buy” rating on the company’s stock, and the price target was increased to $6.40. The analyst’s rating is backed by the strategic merger of fuboTV Inc. (NYSE:FUBO) with Hulu+ Live TV, placing the combined entity as a strong contender in the broader OTT broadcast sector.

Apart from strengthening fuboTV Inc. (NYSE:FUBO)’s financial footing, the merger also significantly enhances its subscriber base. Furthermore, the analyst believes that the expected growth in the OTT market reflects that the new entity will take on a significant share of new subscribers, resulting in a significant increase in revenue over the upcoming years. Consequently, fuboTV Inc. (NYSE:FUBO)’s growth prospects and strong financial position support the analyst’s Buy rating as the stock can appreciate significantly with future positive cash flows.

fuboTV Inc. (NYSE:FUBO) will distribute its Fubo Sports owned & operated linear network on over-the-air (OTA) stations in over 100 markets nationwide. While cord-cutting has been accelerating, American households are relying on OTA for sports, news, and entertainment. The expansion of distribution of the company’s owned & operated linear Fubo Sports network to OTA stations enhances accessibility for consumers and will also create a new revenue stream.

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