Media Stock Stages Bounce Off Morgan Stanley Bull Note

The stock is coming off a seven-month low, hit earlier this week

Digital Content Manager
Dec 9, 2021 at 9:17 AM
facebook X logo linkedin


The shares of  FuboTV Inc (NYSE:FUBO) are up 3% at $20.37 this morning, following a bull note from Morgan Stanley. The analyst initiated coverage with an "overweight" rating and a $28 price target -- which is a 41% premium to last night's  close. 

Morgan Stanley's optimistic call comes just days after FUBO dipped to a seven-month low of $16.26, pressured lower by its 10-day moving average. It was a dismal November for FUBO, which suffered a post-earnings bear gap early on in the month. FUBO wound up losing 34.2% last month, though it looks like a rebound is at play, as the equity reclaimed the aforementioned 10-day trendline this week. 

Analysts were split on FUBO coming into today. Four in coverage called it a "strong buy," while three said "hold." Meanwhile, the 12-month consensus price target of $42.78 is a 109.4% premium to last night's close. 

Despite last month's slide, short interest has been falling, down 14.2% in the last two reporting periods. These bearish bets still make up 18.2% of the stock's available float, and represent over three days at the equity's average daily pace of trading. This could create additional wind at the equity's  back, should these shorts continue to jump ship. 

What's more, the stock's 14-day Relative Strength Index (RSI) of 31 sits just on the cusp of "oversold" territory. This  indicator typically predates a short-term bounce. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI