J.P. Morgan analyst Daniel Politzer has maintained their bullish stance on DKNG stock, giving a Buy rating today.
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Daniel Politzer has given his Buy rating due to a combination of factors influencing DraftKings’ stock. Despite recent market fluctuations and concerns about the impact of prediction markets, Politzer sees potential in the oversold nature of Digital Gaming stocks, including DraftKings. He acknowledges the regulatory uncertainties surrounding prediction markets but believes that the current de-rating presents a buying opportunity.
Politzer notes that historical market reactions to similar events have often led to eventual stock recoveries, suggesting that the current downturn may be temporary. Additionally, he highlights the potential for DraftKings to capitalize on its established brand and product superiority, which could position it well against emerging competitors in the prediction market space. Overall, while there are risks, Politzer’s analysis suggests that the long-term prospects for DraftKings remain favorable.
According to TipRanks, Politzer is a 4-star analyst with an average return of 9.1% and a 53.64% success rate. Politzer covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Boyd Gaming, and Caesars Entertainment.
In another report released today, Jefferies also reiterated a Buy rating on the stock with a $51.00 price target.