DraftKings Emerging As A Leader In $35B North American Online Betting Market, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Needham analyst Bernie McTernan reiterated a Buy rating for DraftKings Inc (NASDAQ:DKNG) with a $60 price target, highlighting its leadership in the $35 billion North American online gambling market. McTernan noted favorable legislative environments and sustainable customer acquisition strategies as key drivers for DraftKings' growth.
June 12, 2024 | 5:57 pm
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Needham analyst Bernie McTernan reiterated a Buy rating for DraftKings with a $60 price target, highlighting its leadership in the $35 billion North American online gambling market. The analyst noted favorable legislative environments and sustainable customer acquisition strategies as key drivers for DraftKings' growth.
The reiteration of a Buy rating and a $60 price target by a reputable analyst, combined with the positive outlook on the legislative environment and sustainable customer acquisition strategies, is likely to boost investor confidence in DraftKings. This should have a positive short-term impact on DKNG's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100