DraftKings' Potential Revenue Synergy Of PointBet Acquisition Deal: Analyst Perspective
Portfolio Pulse from Shivani Kumaresan
DraftKings (DKNG) has offered $195 million for PointBet's US operations, a 30% premium to Fanatics' $150 million acquisition agreement. The deal would be funded through cash on the balance sheet and is expected to increase adjusted EBITDA potential in 2025. Truist Securities analyst Barry Jonas reiterated a Hold rating on DKNG shares with a price target of $26.00.
June 20, 2023 | 6:52 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
DraftKings' $195 million offer for PointBet's US operations could increase adjusted EBITDA potential in 2025. Analyst reiterates Hold rating on DKNG shares with a price target of $26.00.
The acquisition of PointBet's US operations could potentially increase DraftKings' adjusted EBITDA in 2025, which is a positive factor for the company. However, the analyst has reiterated a Hold rating on DKNG shares with a price target of $26.00, indicating a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100