{"id":1097,"date":"2024-02-26T17:12:22","date_gmt":"2024-02-26T14:12:22","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-rallies-on-barclays-upgrade-bank-sees-us-growth-ahead\/"},"modified":"2024-02-26T17:12:22","modified_gmt":"2024-02-26T14:12:22","slug":"draftkings-rallies-on-barclays-upgrade-bank-sees-us-growth-ahead","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/de\/draftkings-rallies-on-barclays-upgrade-bank-sees-us-growth-ahead\/","title":{"rendered":"DraftKings Rallies on Barclays Upgrade, Bank Sees US Growth Ahead"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Inhaltsverzeichnis<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/de\/draftkings-rallies-on-barclays-upgrade-bank-sees-us-growth-ahead\/#DraftKings_Staying_Power_Growth\" title=\"DraftKings Staying Power, Growth\">DraftKings Staying Power, Growth<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/de\/draftkings-rallies-on-barclays-upgrade-bank-sees-us-growth-ahead\/#Potent_Parlays\" title=\"Potent Parlays\">Potent Parlays<\/a><\/li><\/ul><\/nav><\/div>\n<p>Shares of DraftKings (NASDAQ: DKNG) surged in early trading Friday, extending a run that\u2019s seen the stock gain more than 10% over the past month. That\u2019s after Barclays analyst Brandt Montour upgraded the gaming equity.<\/p>\n<figure aria-describedby=\"caption-attachment-301930\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-301930 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8-858x572.jpg\" alt=\"New York iGaming lottery online\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8-194x128.jpg 194w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/DraftKIng-sports-betting-ad-8.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">A DraftKings Sportsbook advertisement above the Grand Central subway station in New York City. The stock rallied Friday on an upgrade from Barclays. (Image: <em>Crain Communications<\/em>)<\/figcaption><\/figure>\n<p>In a note to clients today, Montour upgraded DraftKings to \u201coverweight\u201d from \u201cequal weight,\u201d while boosting his price target on the stock to $50 from $41. That new forecast implies upside of 22.4% from the Feb. 22 close.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>We\u2019re less concerned than we were 3-6 months ago over increased competition, and see the ~10% pullback off the highs post its (strong) 4Q report as an attractive near-term entry point,\u201d observed the analyst.<\/p>\n<\/blockquote>\n<p>Montour is among roughly 10 analysts who have <a href=\"https:\/\/www.casino.org\/news\/jackpocket-buy-mostly-favored-by-analysts-covering-draftkings\/\" rel=\"nofollow noopener\" target=\"_blank\">boosted price targets<\/a> on DraftKings over the past week. Of the 30 analysts covering the stock, 21 rate it \u201cstrong buy\u201d or \u201cbuy.\u201d The consensus price objective of $46.82 implies upside of 11.29% from current levels.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DraftKings_Staying_Power_Growth\"><\/span>DraftKings Staying Power, Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the ultra-competitive US sports wagering industry, DraftKings and rival FanDuel, a unit of Flutter Entertainment (NYSE: FLUT), have separated themselves from the pack, forming a duopoly that controls about 70% of the market.<\/p>\n<div class=\"callout\">\n<p>As Montour notes, that implies DraftKings has significant \u201cstaying power\u201d in that arena. But the operator\u2019s leadership in the iGaming space is arguably underappreciated. In noting that online sports betting and internet casinos are \u201csynergistic\u201d with each other, the analyst lifted his total addressable market for those industries by 1% to 3% over the next several years.<\/p>\n<\/div>\n<p>Montour also hailed DraftKings\u2019 recently announced $750 million cash\/stock deal for online lottery provider Jackpocket <a href=\"https:\/\/www.casino.org\/news\/draftkings-boosts-2024-guidance-to-buy-jackpocket-for-750m\/\" rel=\"nofollow noopener\" target=\"_blank\">as a transaction<\/a> that could add incremental momentum. That acquisition is expected to close in the second half of this year.<\/p>\n<p>\u201cJackpocket is the leading provider of digital lottery services in the U.S., with proprietary and highly-scalable technology, a strong brand, and an outstanding founder-led management team,\u201d according to a statement issued by DraftKings earlier this month. \u201cThe Proposed Transaction will enable DraftKings to access and grow into the massive U.S. lottery industry. But more importantly, strengthen its position in Sportsbook and iGaming through higher customer lifetime value \u2014 based on demonstrated cross-sell capabilities \u2014 and an enhanced customer acquisition engine.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Potent_Parlays\"><\/span>Potent Parlays<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Parlays, including those of the same-game variety, are another factor in Montour\u2019s bullish case for DraftKings stock. The analyst noted same-game parlays can increase the operator\u2019s profitability, bolster hold, and are among the reasons the company recently raised 2024 earnings and revenue guidance.<\/p>\n<p><strong>Operators such as DraftKings offer prepackaged same-game parlays with long odds that are hits with novice bettors. Clients can also build their own. Both scenarios work in favor of gaming companies<\/strong><\/p>\n<p>Many bettors take a lottery ticket mentality toward parlays, stacking legs in a quest for a big payday. Of course, the odds lengthen with each added leg, and that\u2019s good for the sportsbook, not the bettor. Adding to the advantages of parlays for sportsbooks is the point that <a href=\"https:\/\/www.casino.org\/news\/sports-betting-guide-understanding-parlays-pickems-and-pushes\/\" rel=\"nofollow noopener\" target=\"_blank\">many bettors simply don\u2019t<\/a> understand the math behind these wagers.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-gets-boost-from-barclays-upgrade\/\" rel=\"nofollow noopener\" target=\"_blank\">DraftKings Rallies on Barclays Upgrade, Bank Sees US Growth Ahead<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\" rel=\"nofollow noopener\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Shares of DraftKings (NASDAQ: DKNG) surged in early trading Friday, extending a run that\u2019s seen the stock gain more than 10% over the past month. That\u2019s after Barclays analyst Brandt Montour upgraded the gaming equity. A DraftKings Sportsbook advertisement above the Grand Central subway station in New York City. The stock rallied Friday on an <a href=\"https:\/\/xxbet-company.com\/de\/draftkings-rallies-on-barclays-upgrade-bank-sees-us-growth-ahead\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":1098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/1097"}],"collection":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/comments?post=1097"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/1097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media\/1098"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media?parent=1097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/categories?post=1097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/tags?post=1097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}