BMO Capital keeps an Outperform rating and $65 price target on DraftKings (DKNG) while also maintaining the firm’s Top Pick designation on the stock. The 11.5% decline on competitive concerns regarding the launch of sports parlays on Kalshi creates a “back-up-the-truck” opportunity, as DraftKings remains a leading online sports betting platform that is well-positioned to scale up a leading prediction market over the long term, the analyst tells investors in a research note.
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