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Draft Kings Inc (Nasdaq: DKNG) closed 5.6% With sentiment improving ahead of expected earnings next month.
Oppenheimer raised its price target to $36 from $30 as user participation increased and BTIG Research named DKNG a top pick for the second half of the year.
“DraftKings (DKNG) is expected to benefit from favorable fundamentals in 2023, including product improvements, increased investment mix, positive operating background, and improved efficiency, which could result in significantly higher ratings and positive reviews,” BTIG said.
The company selected DraftKings (DKNG) over Flutter Entertainment plc (OTCPK: PDYPY) due to its stronger performance potential and narrow competitive edge.
DKNG has three Buy ratings from the alpha analysts Seek Buy, three Hold and two Seek Sell. It has 19 Buy or Strong Buy ratings from Wall Street analysts, 11 Hold, and 2 Sell.
Its EPS has been revised 20 times to the upside over the past three months, with no downward revisions.