DraftKings: Leveraging First-Mover Advantage in Prediction Markets to Drive Incremental Growth and Support Buy Rating
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Analyst Bernie McTernan from Needham maintains a Buy rating on DraftKings with a $52.00 price target, citing its first-mover advantage in prediction markets. The new DraftKings Predictions app is designed to enhance user monetization and expand product offerings. Despite higher fees, DraftKings' brand and user experience are seen as competitive advantages. The company's geographic reach and strategic positioning support incremental growth, justifying the Buy rating. Jefferies also reiterated a Buy rating.
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