DraftKings Is On A 'Quicker And More Visible Path To Profitability,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
DraftKings Inc (NASDAQ:DKNG) is on a quicker and more visible path to profitability, according to Truist Securities analyst Barry Jonas. He upgraded the rating for DraftKings from Hold to Buy and raised the price target from $31 to $44. The company's Q2 results were significantly better than consensus estimates. DraftKings is expected to benefit from a more rational promo and marketing environment and could continue to gain market share.
August 08, 2023 | 3:41 pm
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POSITIVE IMPACT
DraftKings' stock could see a positive impact due to the upgraded rating from Truist Securities and the raised price target. The company's better than expected Q2 results and potential for market share gain could also boost investor confidence.
The upgraded rating from Hold to Buy by Truist Securities indicates a positive outlook for DraftKings. The raised price target from $31 to $44 suggests that the analyst sees significant upside potential. The better than expected Q2 results and the potential for market share gain could boost investor confidence and drive the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100