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Investing.com — Shares of Fubotv Inc (NYSE:FUBO), the television streaming firm, dropped Tuesday after Roth Capital lowered its price target.
FuboTV’s shares are down over 3%, to $16.30, in early trading after Roth analyst Darren Aftahi lowered the firm’s price target on Fubo to $28 from $45.
Aftahi told investors that the “stay-at-home” premium many stocks had benefitted from during the pandemic is waning, and the analyst doesn’t believe it is relevant now.
The analyst also said the stock has been pressured by the renormalization in streaming multiples and the possible slower rollout to gaming or sportsbooks than expected earlier in the year.
In addition, Aftahi said the company’s acquisition of Molotov could provide an easier entry to the European market through subscriber acquisition.
Roth Capital kept a buy rating on the shares, as it did earlier this month when Aftahi initially set a $45 price target and told investors he expects FuboTV to post a loss per share of 74 cents for the fourth quarter 2021.
