Analyst Says FuboTV May Gain From 'Cord-Nevers'; Stock Up

FuboTV can benefit from “cord-nevers” who prefer customizable TV bundles of streaming content to “pre-determined MVPD programming,” Wedbush's Michael Pachter wrote investors: Its “lead with sports” strategy and competitive pricing offer avid sports fans “the first comprehensive alternative to pay-TV." Sports has been the “hook” to reel in subscribers to pay TV, while news and entertainment increase viewer engagement, he noted Tuesday. Cord cutters and shavers are a 30 million addressable market, likely growing by 3 million yearly, said the analyst. The stock closed 12% higher Wednesday at $29.70.