DraftKings Is a Good Bet Following Price Slump, Morgan Stanley Says [TheStreet.com]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: TheStreet.com
Investors who have are looking to buy a dip should look toward DraftKings ( ) -, according to a bullish Morgan Stanley note. DraftKings' chart shows the from an early September high in the mid-$60s to its current level in the low-$20s, but the Boston sports-gambling company remains one of the top dogs in its market. Morgan Stanley's note says the opportunity is "too big to ignore." "While we and the market have been focused on near-to-medium-term profit concerns, we believe at the current price, one should not ignore that DKNG is a leading-market-share player in what will be a very," said analyst Thomas Allen, who upgraded the stock to overweight from equal weight with a $31 price target. New York State Jumps Into Sports-Betting Fray The catalyst for the improved outlook on DraftKings, and the sports gambling space as a whole, is data that released for its first eight days of legal online sports betting. Morgan Stanley notes that the implied market revenue run rate for the state
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DKNG
Earnings
- 2/15/24 - Beat
DKNG
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- DKNG's page on the SEC website