Why DraftKings Stock Gained Ground This Morning
Shares of DraftKings (NASDAQ: DKNG) climbed sharply higher on Friday, surging as much as 6.3% early in the session. As of 11:17 a.m. ET, the stock was trading up 3.2%.
The catalyst that sent the online betting and fantasy sports company higher was some positive coverage by a Wall Street analyst and news it would launch in a new state in the coming week.
Piper Sandler analyst Matt Farrell initiated coverage of the stock with an overweight (buy) rating and $21 price target, which represents potential upside for investors of roughly 41% compared with Thursday's closing price.
Source Fool.com
