Barclays has upgraded its rating on DraftKings (DKNG) to Overweight from Equal Weight and increased its price target to $50 from $41, citing the U.S. Digital Gaming market's significant growth potential. Analyst Brandt Montour highlighted, "U.S. Digital Gaming market still has significant growth ahead. Raising TAM and hold on continued mature state growth and parlay upside, respectively." Montour's new price target suggests a 22.4% upside from Thursday's close. He expressed less concern over the recent wave of competition, indicating a strong market position for DraftKings and potential for further growth.
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$DKNG Barclays has crowned DraftKings as a stock worth buying. Analyst Brandt Montour upgraded the sports betting stock to overweight from equal weight and upped his price target by $9 to $50. Montour’s new price target implies a 22.4% upside over Thursday’s close.
$DKNG Barclays upgrades DraftKings The investment bank raised its rating on the sports betting stock to overweight from equal weight and raised the price target, noting a larger market than previously anticipated. “We’re less concerned than we were 3-6 months ago over increased…
Buy DraftKings as sports betting shows 'staying power,' Barclays says https://t.co/AJXut6HBR7
$DKNG: Barclays Upgrades to Overweight from Equalweight - PT $50 (from $41) "U.S. Digital Gaming market still has significant growth ahead. Raising TAM and hold on continued mature state growth and parlay upside, respectively. Less concerned over recent wave of competition and…