DraftKings (DKNG – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Benjamin Miller CFA from Goldman Sachs maintained a Buy rating on the stock and has a $59.00 price target.
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Benjamin Miller CFA has given his Buy rating due to a combination of factors that highlight DraftKings’ strategic positioning and operational resilience. Despite facing challenges from unfavorable sports outcomes and adjustments in fiscal year 2025 guidance, the company has demonstrated its ability to navigate these hurdles effectively. The management’s confidence in the resilience of online gambling, even during economic downturns, underscores their strategic foresight.
Moreover, DraftKings continues to show positive momentum in its core value drivers, such as consistent customer acquisition and improved sportsbook hold. The company’s commitment to shareholder value is evident through its capital return initiatives, including significant share buybacks. These factors, coupled with the anticipated growth and strategic focus, support the Buy rating, reflecting a positive outlook on the company’s future performance.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $54.00 price target.