Wedbush raised the firm’s price target on FuboTV (FUBO) to $6.40 from $3 and keeps an Outperform rating on the shares after the company and Disney (DIS) entered into a business combination agreement that will see Disney combine Fubo and Hulu + Live TV under a new company. Fubo’s combination with Hulu+ Live TV should result in a dominant player in over-the-top broadcast, the firm says. The combined entity will be slightly smaller than competitors SlingTV and YouTubeTV (GOOGL), but should be well-positioned to attract “cord nevers” who leave the nest over the next decade, Wedbush argues.
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