Bank of America upgraded DraftKings from 'neutral' to 'buy' with a $27 price target, highlighting improved prospects in prediction markets after a 47% stock decline over the past year. The bank estimates prediction markets could generate $400 million in fees by 2027, with additional revenue from market-making activities. Concerns about these markets cannibalizing DraftKings' core sportsbook business have eased, and stronger core business trends support a raised 2027 EBITDA forecast of $1.15 billion. BofA sees a 45% potential upside, noting recent stock weakness as excessive but advises continued cost discipline for sustained margins.
As of Oct 06, 2026 00:51 WIB, DraftKings (DKNG) is trading at USD 20.00 on Pluang, showing a strong 1-day gain of 7.58%. The stock's market capitalization stands at $9.23 billion, reflecting significant investor interest despite past declines. This notable daily increase highlights renewed optimism in the company's prospects.
The Nasdaq Composite Index reached a new all-time high led by growth and software stocks, even as the Dow slipped and the S&P 500 showed little movement. Investors are favoring growth names despite rising long-term Treasury yields, which typically pr...
Bank of America upgraded DraftKings stock to Buy from Neutral, citing reduced risks from prediction markets and a favorable risk-reward at current prices. DraftKings shares rose 5% following the upgrade, while competitors Flutter Entertainment and MG...
