Evercore ISI Downgrades fuboTV (FUBO) to In Line

Evercore ISI analyst Shweta Khajuria downgraded fuboTV (NYSE: FUBO) from Outperform to In Line with a price target of $3.00 (from $6.00).

The analyst comments "We don’t believe the company will need any meaningful capital raise this year, but we think FUBO’s FY’25 goals could prove to be aggressive—2MM subs in NA (implying 15% CAGR for ’24 & ’25, up from 10% this year) and $15-$20 in Ad ARPU (implying 35%+ CAGR for ’24-’25). While we acknowledge Fubo could potentially get to breakeven FCF by ’25 EVEN if the company comes close to (and not meet/exceed) its ’25 targets, we believe Fubo’s sustainable growth profile is moderating, in a challenging macro environment with mounting competitive pressure. As such, we are stepping on the sidelines. 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. Downgrading to In Line and PT to $3.0."

For an analyst ratings summary and ratings history on fuboTV click here. For more ratings news on fuboTV click here.

Shares of fuboTV closed at $2.00 yesterday.

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