Sports focused live TV streaming platform fuboTV Inc. (FUBO) recently announced that it has entered into a distribution agreement with AT&T SportsNet to stream AT&T SportsNet Rocky Mountain on fuboTV in the coming days.
Following the news, shares of the company gained 1.4% to close at $25.49 on Monday.
The deal will enable fuboTV access to the regional coverage of Utah Jazz, Vegas Golden Knights and Colorado Rockies, including other ancillary programming and behind-the-scenes content. Initially, the regional sports network will launch on fuboTV in Nevada, Utah, and the surrounding areas.
The Senior Vice-President of Content Strategy and Acquisition for fuboTV, Ben Grad, said, “Today’s partnership agreement with AT&T SportsNet Rocky Mountain will bring sports fans streaming coverage of some of their favorite local teams – just in time for the NBA and NHL seasons. We’re thrilled to welcome another AT&T SportsNet RSN to fuboTV.” (See fuboTV stock chart on TipRanks)
Recently, Needham analyst Laura Martin reiterated a Buy rating on the stock with a price target of $60, which implies upside potential of 135.6% from current levels.
Consensus among analysts is a Strong Buy based on 6 Buys and 1 Hold. The average fuboTV price target of $43.86 implies upside potential of 72.2% from current levels.
fuboTV scores a 9 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained 158.3% over the past year.
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