Roth Capital analyst Darren Aftahi raised the price target on fuboTV (OTC: FUBO) to $29.00 (from $20.00) after 3Q results beat sub and ARPU expectations. While CAC fell modestly y/y, the 4Q and 2021 guidance was raised.

The analyst reiterated a Buy rating, stating "While we are encouraged by results, we step back and suggest to investors ~80M U.S. households (pay-TV) remain “ripe” to cut the cord. Its raised 2021 guidance implies “organic” FuboTV growth of almost 80%, more than double that of ROKU’s. Furthermore, wagering, which was “teased” could be a big “mechanism” for improved retention and further ad revenue, longer-term".