fuboTV (FUBO) Management Meeting Takeaways - Oppenheimer
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Oppenheimer analyst Jason Helfstein reiterated an Outperform rating and $32.00 price target on fuboTV (NYSE: FUBO) after hosting a group meeting with CEO, David Gandler, and Head of Advertising Sales, Diana Horowitz, to discuss FUBO's current positioning and future opportunities in the vMVPD advertising market.
The analyst stated "strong subscriber growth and viewership mix shift to ad-insertable content is driving a supply/demand gap that has kept fill rates and CPMs lower than competitors (low $20 range vs. ROKU's ~$30-35); however, we see the monetization gap closing as FUBO builds out its ad operations and its subscriber base approaches larger mass." He went on to state "We believe FUBO's larger mix of RSNs provides higher pricing upside than competitors' as local ads can typically carry higher CPMs ($50-150). The company should also benefit from the new Ad Studio in partnership with LiveRamp creating an ability to integrate custom branded content with FUBO personalities. We also believe FUBO's F2P and OSB product rollouts present attractive opportunities for live event, high-impact unit placing such as food delivery, merchandise, etc."
Shares of fuboTV closed at $29.53 yesterday.
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