Craig-Hallum tells investors in a research note that DraftKing had an “impressive” report, with strong market share gains and structural hold improvements driving outsized industry growth for the company. The analyst, who made no change to the firm’s Buy rating or $40 price target, says DraftKings is now #1 in iGaming and #1 in OSB, including a 1200 bps improvement in combined share over the past five quarters, which provides strong visibility to likely industry outperformance for at least four more quarters.
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