FuboTV surges as brokerages raise PT after strong Q2 prelim results

Shares of FuboTV FUBO.N soar and are on track for their biggest daily jump since January, last up 19.5% at $4.22

Needham raises PT on the stock by 42% to $4.25

Another brokerage firm Wedbush raises PT to $6 from $5, noting that Fubo's 2023 turnaround from years of losses positions it to potentially add 500,000-1 mln customers annually, driving over $500 mln yearly revenue growth

On Tuesday, the sports-focused streaming service reported preliminary results; sees Q2 North America revenue above analysts' estimates as per data compiled by LSEG

FUBO also lifts Q2 outlook for North America paid subscribers

Co is set to announce second-quarter results on August 8

Including session's moves, stock is up 232% YTD