Raymond James analyst Brent Penter initiated coverage of FuboTV (FUBO) with a Market Perform rating and no price target The firm believes the Hulu merger “significantly strengthens” FuboTV’s scale, competitive positioning, and balance sheet. The company is now positioned “firmly” as the number two virtual multichannel video programming distributor behind YouTube TV, the analyst tells investors in a research note. However, Raymond James awaits updates on FuboTV’s guidance with the deal closed before recommending the shares.
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