DraftKings Stock Poised for Growth with 17% Upside Potential, Says Leading Wall Street Analyst
DraftKings Stock Upside Potential
This underappreciated stock in a growing market is poised for a rebound, as per one Wall Street analyst. Now might be a great time to invest in next-generation sports wagering stock DraftKings (NASDAQ: DKNG).
Barclays Equity Research Analyst's Take
Barclays' Brandt Montour upgraded DraftKings from hold to buy, with a 17% upside potential. The key factors driving the change are the optimistic outlook on the digital gambling market and undervalued position in partnerships and acquisitions.
Challenges and Considerations
- Profitability Concerns: DraftKings continues to operate at a loss despite revenue growth.
- Competition in Market: Despite its prominence, DraftKings faces stiff competition at the top tier.
Investors are advised to carefully evaluate both the potential growth and challenges before making investment decisions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.