Investors should snap up fuboTV at a discount now, according to Wedbush. The firm upgraded shares of the streaming service to outperform from neutral and maintained its $6 price target. That implies that shares could surge 53%. Shares of fuboTV have plunged nearly 75% year-to-date, which is part of the reason for Wedbush’s upgrade. The company also laid out strong targets in a recent investor day, saying it plans to reach profitability by 2025 after years of losses. To reach this target, the company needs to focus on raising capital and slashing cash burden, analyst Michael Pachter wrote in a Friday note. “We are confident that fuboTV can do both, but it is uncertain how dilutive the capital raise will be and how rapidly their cash burn will improve,” said Pachter. “We believe our $6 price target is fully priced in that uncertainty, while shares have dropped well below this since our recent downgrade.” Compelling entry He added that given the risk versus reward, the current share price offers a “compelling entry point,” especially given fuboTV’s business. “FuboTV has a solid head start in offering live sports programming to its subscribers, has a thriving and growing advertising business, and presents a compelling opportunity for a sports wagering company to partner with an established sports television broadcaster,” Pachter said. To be sure, without raising capital, fuboTV will be out of cash in a year, Wedbush noted. In the near-term, hurdles include slowing subscriber growth, intense competition, inflation and rising content costs. Wedbush also expects that the stock will be choppy in the coming months but start a general uptrend into the World Cup, which takes place in November and December. “We now view this as a compelling entry point for those with an appetite for some downside risk,” he said.