Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Morgan Stanley Sees 60% Upside In This Sports Betting Company - Read Why

Morgan Stanley DKNG DraftKings Thomas Allen DraftKings Inc New York United States
  • Morgan Stanley analyst Thomas Allen upgraded DraftKings Inc (NASDAQ:DKNG) to Overweight from Equal Weight with an unchanged price target of $31, implying a 60.46% upside.
  • Allen said that the stock's recent pullback presents an opportunity to invest for the long term.
  • The analyst noted investors "should not ignore" that DraftKings is a leading player in what will be a very large and profitable U.S. sports betting and internet gaming market.
  • Allen added data from New York's first several days of legal sports betting remind how big the opportunity is, with the implied market revenue run rate well ahead of Morgan Stanley's previous expectations.
  • Price Action: DKNG shares traded higher by 8.18% at $20.90 in premarket on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Cara Delevingne Dishes on Taking Taylor Swift on a "Wild Ride" When They Lived Together
Well, they weren't bored.
Marie Claire
Marie Claire
Arcane creators say it'll be a long time before the next League of Legends adaptation lands on Netflix: 'We're not in production on those yet'
Arcane season 2 is almost over, but the award-winning Netflix show's creators "can't say" what they're working on next – and it's the internet's fault.
TechRadar
TechRadar
Melania and RFK Jr join forces to try to improve Trump’s diet: ‘Think fewer Big Macs and less KFC’
Incoming first lady and Trump’s pick for Health and Human Services secretary are apparently lobbying the president to make healthier choices
The Independent UK
The Independent UK
What are ‘Pink tote lid moments’? Dark TikTok trend explained
The dark trend has seen both young people and adults sharing troubling stories
The Independent UK
The Independent UK
Cruel Intentions review – this generic remake of the 90s classic is utterly mindless
Sarah Michelle Gellar and Ryan Phillippe’s movie gets a melodramatic YA remake – with a pair of actors who aren’t a patch on the originals. Just dig out the original instead
The Guardian - UK
The Guardian - UK
US moves to list giraffes under Endangered Species Act for first time
Climate crisis, habitat loss and poaching have reduced its numbers – but will Trump put the kibosh on protections?
The Guardian - US
The Guardian - US
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play