Posted 2/23/2024, 1:55:00 PM
DraftKings Stock a Buy on Pullback After Earnings, Says Barclays; Top Player in U.S. Sports Betting With Big Growth Ahead
- Pullback after earnings makes stock more attractive entry point, according to Barclays analyst upgrade
- Underappreciated position in high-growth iGaming/online casino market
- Parlays a "gift that keeps on giving" with higher profit margins for sports books
- Barclays raises price target to $50 based on 25x 2025E EBITDA multiple
- DraftKings a top 2 player in U.S. sports betting/iGaming with rapid profit ramp