fuboTV Inc. (FUBO) shares soared 10.28% during intraday trading on Tuesday, driven by a series of positive analyst actions that boosted investor confidence in the streaming service provider.

The significant price movement followed multiple upgrades and price target increases from financial research firms. Barrington Research upgraded fuboTV to "Outperform" from "Market Perform" with a $16 price target, citing the company's updated financial outlook. Separately, Wedbush adjusted its price target to $24 from $3.5 to reflect a 1-for-12 reverse stock split while maintaining an Outperform rating. Additionally, Citizens analyst Matthew Condon raised the firm's price target on fuboTV to $15 from $13 and kept an Outperform rating on the shares.

According to FactSet data, fuboTV currently has an average analyst rating of "overweight" and a mean price target of $18.50. These coordinated analyst actions, highlighting improved financial prospects and higher valuation targets, appear to have fueled the substantial intraday rally as investors reacted to the enhanced outlook from multiple research firms.