DraftKings Could Have a 31% Upside, New Analyst Coverage Says
Fantasy sports operator DraftKings (NASDAQ: DKNG) has seen strong gains as the popularity of online sports betting rises quickly across America. Financial analysis firm Bernstein underscored that fact with its first-ever coverage of the company. Bernstein gave DraftKings a price target of $71 per share, more than 31% higher than its stock price at the start of trading today, along with an outperform rating.
The accompanying research note makes predictions about both the future of DraftKings specifically, and digital sports betting in the United States in general. The firm forecasts a $25 billion market by 2025 and a $30 billion market a decade in 2030, at which point it expects 85% of the country's population to have access to legal online sportsbooks.
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Source Fool.com
