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fuboTV Bags Exclusive Serie A and Coppa Italia Rights for Canada
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fuboTV Bags Exclusive Serie A and Coppa Italia Rights for Canada

Sports-first live TV streaming platform fuboTV Inc. (FUBO) announced that it has purchased the exclusive rights for Coppa Italia and the exclusive English language rights for Serie A in Canada. The financial terms of the deal have been kept under wraps.

Following the news, shares of the company declined 3.7% on Thursday. However, it recovered its losses slightly to close at $25.30 in extended trade.

As per the agreement, fuboTV will stream a minimum of 41 live matches per season from the Italian football annual cup competition, Coppa Italia, and the Supercoppa Italiana, an annual football match contested by the winners of the Serie A and the Coppa Italia. The matches will stream exclusively in Canada on fuboTV.

Further, fuboTV will be the exclusive English language broadcaster of Italy’s Serie A in Canada. Coverage by fuboTV will commence from August 21 and will consist of 380 matches annually.

The CEO of fuboTV, David Gandler, said, “Our mission is to attract Canadians looking for low-cost, consumer friendly offerings to our premium sports-first live TV streaming platform. Today’s agreements for Serie A and Coppa Italia bring two of the most prestigious international soccer brands to fuboTV, further differentiating our platform with exclusive live sports that Canadians can’t watch anywhere else, and at a low price point.” (See fuboTV stock chart on TipRanks)

Recently, Barrington analyst James Goss reiterated a Buy rating on the stock with a price target of $37. The analyst’s price target implies 47.1% upside potential 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 74.4% upside potential from current levels.

fuboTV scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained 135.1% over the past year.

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