fuboTV (NYSE:FUBO) has been on an incredible run since its high-profile IPO in early October, gaining 275% in just four months' time. The stock got another lift last week when an analyst -- who rose to prominence for his long-term bearish view on Netflix (NASDAQ:NFLX) -- boosted his price target on fuboTV stock by 25%.
On this clip from Motley Fool Live, recorded on Feb. 1, "The Wrap" host Jason Hall and Fool.com contributor Danny Vena discuss what to make of the call.
Jason Hall: Danny, you want to talk about fubo. What's going on there?
Danny Vena: Sure. The question that we had here is, Dave Jay says, "fubo TV gets a boost from famed streaming expert Michael Pachter." Now, if I'm reading this right, there might be a little bit of tongue-in-cheek there. Michael Pachter was the analyst who has for years and years ...
Hall: The Perma-Bear.
Vena: ... had a thumbs down. Yeah, Perma-Bear on Netflix.
Vena: Saying how Netflix was going to crash and burn. Every argument that he has used, Netflix has overcome over the last few years. I think that we're getting a little tongue-in-cheek there.
Now that said, shares of fuboTV were up about 24% today. It was a result of Michael Pachter's boosting his price target on the stock by 25%. Basically, he said the company is "well-positioned with its lead with sports strategy." Essentially this is a streaming video company who also has sports available in its package.
He believes that that puts the company in the right place to compete against the bigger and already more popular streaming services like Netflix and [Walt Disney's (NYSE: DIS)] Disney+. We will have to see whether or not Mr. Pachter is right. But better late than never for him to jump on the streaming bandwagon.
Hall: There you go. Hopefully it doesn't crash the party for all of us after finally all these years of being a bluebird, so we'll see.