Maxim initiated coverage of FreeCast with a Buy rating and $6 price target. The company's free bundling of local and streaming TV services generates lower customer acquisition and no content creation cost compared to traditional streaming companies, the analyst tells investors in a research note. With 22 distribution partners representing a potential customer universe of 23.1M users, and a pipeline of 14 potential partners representing 14.7M potential customers, the firm projects revenue to be driven primarily by advertising, and also from subscription and ancillary offerings, as well as expanding partnerships, Maxim added.
