fuboTV Inc. (FUBO) shares surged 5.22% during pre-market trading on Tuesday, following positive analyst actions that boosted investor sentiment.

The streaming service provider received an upgrade from Barrington Research to "Outperform" from "Market Perform" with a $16 price target. Additionally, Wedbush adjusted its price target to $24 from $3.5 to reflect a 1-for-12 reverse stock split. According to FactSet data, fuboTV currently has an average rating of "overweight" and a mean price target of $18.50 among analysts.

These analyst actions, including the rating upgrade and revised price targets, appear to have driven the significant pre-market price movement as investors reacted to the improved outlook from financial research firms.