DraftKings, Sportsbooks Could Benefit From Week 2 NFL Underdogs Winning
Portfolio Pulse from Chris Katje
DraftKings and other sportsbooks could benefit from favorable outcomes in the second week of the NFL season, with underdogs winning over 50% of games. Needham analyst Bernie McTernan reiterated a Buy rating and $60 price target for DraftKings, highlighting its strong position in the growing North American online gambling market.
September 16, 2024 | 6:39 pm
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PENN Entertainment's ESPN Bet app fell in iOS rankings from 23rd to 26th in the second week of the NFL season, indicating potential challenges in gaining market share.
PENN's ESPN Bet app's drop in rankings suggests a potential struggle to capture market share, which could negatively impact its short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
DraftKings is expected to benefit from favorable NFL Week 2 outcomes, with underdogs winning over 50% of games. Analyst Bernie McTernan reiterated a Buy rating and $60 price target, citing DraftKings' strong market position.
DraftKings is directly mentioned as benefiting from the NFL Week 2 outcomes, with an analyst reiterating a Buy rating and a $60 price target. The favorable outcomes for sportsbooks and DraftKings' strong app ranking support a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100