Bank of America upgrades DraftKings to Buy after 19% monthly decline
By The Weekly Edge desk · · Updated
Summary
Bank of America raised its DraftKings rating from Neutral to Buy on 8 October, Online Poker Report reported. Analyst Shaun Kelley retained a $27 price target after shares fell 19% over a month. The bank said earnings expectations might be approaching a low and cited reduced cannibalisation risk from prediction markets.
Why it matters
Bank of America’s upgrade highlights potentially bottoming earnings expectations and reduced prediction market cannibalisation risk for DraftKings investors.