Clark Lampen, an analyst from BTIG, maintained the Buy rating on DraftKings. The associated price target was raised to $45.00.
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Clark Lampen has given his Buy rating due to a combination of factors that highlight DraftKings’ strategic advancements and growth potential. The company has shown significant progress in its Casino and iGaming sectors, particularly through enhanced product offerings and effective marketing strategies. These efforts are expected to attract new players, especially in the slots-first segment, and contribute to a steady or accelerating revenue growth by 2026.
Additionally, DraftKings is cautiously entering the prediction markets, with plans to assess customer acquisition costs and returns before making substantial commitments. The company aims to differentiate itself through innovative user interfaces and potential vertical integration, which could include market making and exchange capabilities. These strategic initiatives, combined with favorable valuation metrics, support the Buy rating with a price target of $45.
Lampen covers the Communication Services sector, focusing on stocks such as AppLovin, Roblox, and Trade Desk. According to TipRanks, Lampen has an average return of 29.9% and a 48.74% success rate on recommended stocks.
In another report released on December 3, Barclays also maintained a Buy rating on the stock with a $40.00 price target.