FuboTV Stock: Next Stop $8?
It's been a wild first few months for fuboTV (NYSE: FUBO) since hitting the market at $10 in early October. Last week the volatility hit a fever pitch. The shares soared 58% through the first two trading days of the week, hitting an all-time high of $62.29 on Tuesday. The market-tingling six-bagger would go on to give the lion's share of those gains back, tumbling 29% in the final two trading days of the holiday-shortened week following back-to-back bearish analyst moves.
Daniel Salmon at BMO Capital kicked things off by downgrading fuboTV from outperform to market perform on Wednesday. Bulls can argue that Salmon also boosted his price target on the shares from $33 to $50. The real back breaker came a day later.
LightShed Partners -- led by Richard Greenfield along with fellow analysts Brandon Ross and Mark Kelley -- initiated coverage of fuboTV with a sell rating and an $8 price target. It's a brutal call, and the LightShed analysts are arguing that it could be "the most compelling short we have ever identified in our career as analysts." The floor may seem a lot lower than the ceiling is high, but it would still be a mistake to bet against fuboTV.
Source Fool.com
