Jefferies Analyst Still Sees Over 30% More Upside for DraftKings

Online sports gaming company DraftKings (NASDAQ: DKNG) has only been a public company since April 17, 2020, and little sports has been going on since that time. Yet the share price has more than doubled off its approximately $17 offering price. 

Now Jefferies analyst David Katz has initiated the company as a buy recommendation, with a price target of $55, representing 38% upside from today's opening price. The analyst says the company is in the "best position to capitalize" on digital sports gambling in the U.S. Katz believes that online sports gambling is in the beginning stages of growth that will lead to a $19 billion market in the next three to five years. 

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Source Fool.com