{"id":590,"date":"2022-05-04T05:11:43","date_gmt":"2022-05-04T02:11:43","guid":{"rendered":"https:\/\/xxbet-company.com\/draftkings-stock-rises-on-bullish-morgan-stanley-comments\/"},"modified":"2022-05-04T05:11:43","modified_gmt":"2022-05-04T02:11:43","slug":"draftkings-stock-rises-on-bullish-morgan-stanley-comments","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/es\/draftkings-stock-rises-on-bullish-morgan-stanley-comments\/","title":{"rendered":"DraftKings Stock Rises on Bullish Morgan Stanley Comments"},"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\">Tabla de contenidos<\/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\/es\/draftkings-stock-rises-on-bullish-morgan-stanley-comments\/#Morgan_Stanley_a_DraftKings_Supporter\" title=\"Morgan Stanley, a DraftKings Supporter\">Morgan Stanley, a DraftKings Supporter<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/es\/draftkings-stock-rises-on-bullish-morgan-stanley-comments\/#Waiting_on_DraftKings_Earnings\" title=\"Waiting on DraftKings Earnings\">Waiting on DraftKings Earnings<\/a><\/li><\/ul><\/nav><\/div>\n<p>DraftKings (NASDAQ:DKNG) stock is getting a much-needed lift after Morgan Stanley issued constructive comments on the battered online sportsbook operator.<\/p>\n<figure aria-describedby=\"caption-attachment-211610\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-211610 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-142x80.jpg\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-142x80.jpg\" alt=\"DraftKings stock\" width=\"1200\" height=\"675\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-1536x864.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA.jpg 1920w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-211610\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-142x80.jpg\" alt=\"DraftKings stock\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA-1536x864.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/TA.jpg 1920w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Morgan Stanley analyst Thomas Allen in a 2016 <em>CNBC<\/em> interview. The bank is bullish on DraftKings stock. (Image: <em>CNBC<\/em>)<\/figcaption><\/figure>\n<p>DraftKings is higher by more than 5% in midday trading, though that\u2019s barely enough to dent an almost 76% decline over the past year. Hindered <a href=\"https:\/\/www.casino.org\/news\/draftkings-rallied-this-week-but-jim-chanos-remains-bearish\/\" rel=\"nofollow noopener\" target=\"_blank\">by lack of profitability<\/a> and a market environment that doesn\u2019t take kindly to such stocks, DraftKings hasn\u2019t closed above its 200-day moving average since last September.<\/p>\n<p>Still, Morgan Stanley is positive about the gaming company, citing the familiar catalyst of total addressable market growth.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>We forecast legal US sports betting &#038; iGaming to increase from <$1.5 billion in 2019 to $21 billion in 2025 as more states legalize and spend per capita rises,\u201d<\/strong> said Morgan Stanley equity strategist Michelle Weaver \u00a0in a report to clients.<\/p>\n<\/blockquote>\n<p>DraftKings stock is one of 45 on the bank\u2019s high conviction North American equities list.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Morgan_Stanley_a_DraftKings_Supporter\"><\/span>Morgan Stanley, a DraftKings Supporter<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Sheer price action confirms it\u2019s been difficult to be bullish on DraftKings in recent months. But Morgan Stanley is in that camp.<\/p>\n<div class=\"callout\">\n<p>In March, analyst Thomas Allen <a href=\"https:\/\/www.casino.org\/news\/morgan-stanley-remains-bullish-on-draftkings-stock\/\" rel=\"nofollow noopener\" target=\"_blank\">reiterated an \u201coverweight\u201d rating<\/a> on the stock, with a $31 price target. That\u2019s more than double where the shares currently reside. While acknowledging DraftKings is dealing with near-term losses, the analyst argues investors are being shortsighted and that companies making the transition to profitable from money-losing can deliver significant upside. Allen believes DraftKings can join that group.<\/p>\n<\/div>\n<p>The analyst adds that while the US iGaming and online sports betting markets will eventually be \u201cvery large,\u201d there will be a small number of market share winners, and DraftKings will be one of those operators.<\/p>\n<p>DraftKings joins Amazon (NASDAQ:AMZN), Chipotle (NYSE:CMG), Ferrari (NYSE:RACE), and Ross Stores (NASDAQ:ROST) as the consumer discretionary names on the Morgan Stanley high conviction list.<\/p>\n<p><strong>The Boston-based sportsbook giant is the only gaming name in the group.<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Waiting_on_DraftKings_Earnings\"><\/span>Waiting on DraftKings Earnings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The daily fantasy sports (DFS) behemoth reports first-quarter results before the open of US markets on Friday, May 6. Analysts are expecting a loss of $1.24 per share. Over the past month, there\u2019s been upward revision and two cuts to that estimate by analysts following DraftKings stock, according to Zacks Investment Research.<\/p>\n<p>Investors will likely pay close attention to any update to the 2022 guidance the company offers on Friday. In February, <a href=\"https:\/\/www.casino.org\/news\/draftkings-2022-outlook-disappoints-stock-tumbles\/\" rel=\"nofollow noopener\" target=\"_blank\">the operator forecast 2022<\/a> sales of $1.85 billion to $2 billion on earnings before interest, taxes, depreciation and amortization (EBITDA) loss of $825 million to $925 million.<\/p>\n<p><strong>That outlook doesn\u2019t account for the company\u2019s still-pending launch in Ontario, Canada. Nor does it factor in sports betting going live in Maryland.<\/strong><\/p>\n<p>Investors will also likely want an update on the acquisition of Tilman Fertitta\u2019s Golden Nugget Online Gaming (NASDAQ:GNOG). Since that deal was announced last August, shares of both the suitor and target plunged. But Fertitta <a href=\"https:\/\/www.casino.org\/news\/golden-nugget-owner-tilman-fertitta-king-crab-priced-out-market\/\" rel=\"nofollow noopener\" target=\"_blank\">said it remains on track to close<\/a>\u00a0and that he\u2019s committed to being a long-term DraftKings shareholder.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/draftkings-stock-rallies-on-supportive-morgan-stanley-comments\/\" target=\"_blank\">DraftKings Stock Rises on Bullish Morgan Stanley Comments<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>DraftKings (NASDAQ:DKNG) stock is getting a much-needed lift after Morgan Stanley issued constructive comments on the battered online sportsbook operator. Morgan Stanley analyst Thomas Allen in a 2016 CNBC interview. The bank is bullish on DraftKings stock. (Image: CNBC) DraftKings is higher by more than 5% in midday trading, though that\u2019s barely enough to dent <a href=\"https:\/\/xxbet-company.com\/es\/draftkings-stock-rises-on-bullish-morgan-stanley-comments\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":591,"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\/es\/wp-json\/wp\/v2\/posts\/590"}],"collection":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/comments?post=590"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts\/590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media\/591"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media?parent=590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/categories?post=590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/tags?post=590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}