DraftKings Receives Buy Rating and $30 Price Target
Freedom Capital Markets initiated coverage of DraftKings with a buy rating and a $30 price target. The firm identified political and event-based prediction markets as a potential $10 billion growth opportunity.
benzinga.comFreedom Capital Markets initiated coverage of DraftKings with a buy rating and a $30 price target. Analyst Nick McKay stated that political and event-based prediction markets represent an untapped $10 billion incremental revenue opportunity. The firm noted that DraftKings is positioned to monetize this category through its existing user base.
5 million.
The company plans to expand beyond traditional sports betting into political and pop-culture forecasts.
Rating for DraftKings stands at hold.
Analysts project a 50 percent profit increase by fiscal year 2028, which would support an 11 times EBITDA multiple.
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