Benchmark Reiterates Buy Rating on DraftKings Inc. (DKNG) Despite Market Fears

Benchmark analyst Mike Hickey reiterated a Buy rating and $53.00 price target on DraftKings Inc. (NASDAQ: DKNG).

The analyst commented, "Headlines around Kalshi’s record volumes have created investor concern about potential sportsbook market share losses, but we view this as misplaced. DraftKings (DKNG), Flutter (FLUT), and the broader ecosystem of players including Genius Sports (GENI) and Sportradar (SRAD) have all indicated very limited to no business impact from prediction platforms in regulated states. Regulated sportsbooks continue to offer far superior products, including live betting, same-game and multi-game parlays, and integrated casino, payments, and loyalty, that will be extremely difficult for prediction markets to replicate at scale."

For an analyst ratings summary and ratings history on DraftKings Inc. click here. For more ratings news on DraftKings Inc. click here.

Shares of DraftKings Inc. closed at $37.40 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Redwire Defense wins $15.9M Army contract for drone systems
• AeroVironment wins $117M Army drone contract