Jefferies Starts DraftKings Inc. (DKNG) at Buy

(Updated - June 22, 2020 6:06 AM EDT)

(updating comment)

Jefferies analyst David Katz initiates coverage on DraftKings Inc. (NASDAQ: DKNG) with a Buy rating and a price target of $55.00. The firm sees an upside scenario of $175.

The analyst comments "DKNG is among the best positioned to capitalize on the growth of digital/sports wagering in the U.S., which we believe is in the initial stage of a decade-long acceleration. The political disposition toward expansion of sports betting and iGaming is increasingly favorable, the demand from consumers is proven and technology is advancing the execution."

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 $43.00 yesterday.

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