FuboTV price target lowered to $2 from $3 at Needham

Needham lowered the firm’s price target on FuboTV (FUBO) to $2 from $3 and keeps a Buy rating on the shares. The analyst cites the impact of the expected Q4 launch of a new sports-focused “skinny bundle” partnership between Disney’s (DIS) ESPN, FOX (FOXA) Sports and Warner Bros Discovery (WBD) as well as higher marketing expenses owing to a more competitive environment in FY25 than FY24. Needham is also cutting its FY25 EPS view on FuboTV by 4c to (46c).