wagering in a 2020 ballot initiative<\/a>, is one of the most widely anticipated additions to the regulated sports wagering fray. That’s because disposable income is high in the state and residents are enthusiastic about sports.<\/p>\nOther DraftKings Catalysts<\/h2>\n
Speaking of state-level catalysts for DraftKings stock, Piper Sandler\u2019s Farrell noted \u201ca steady cadence of legalization.\u201d Massachusetts and Ohio are the marquee states readying to join the mobile sports betting lineup over the near term.<\/p>\n
DraftKings also carved out a growing niche in the internet casino market, which is notable because that industry offers better margins than sports betting, and its long-term growth profile could prove superior as more states approve it. Farrell\u2019s total addressable market forecast for US and Canadian sports betting and iGaming is ambitious at $80 billion.<\/strong><\/p>\n\u201cOverall, we recommend investors own DraftKings for exposure to the rapidly growing online sports betting and iGaming markets,\u201d concluded the analyst.<\/p>\n","protected":false},"excerpt":{"rendered":"
DraftKings (NASDAQ: DKNG) stock traded modestly higher Friday amid a couple of favorable headlines, including a new bullish sell-side call. In a note to clients on Friday, Piper Sandler analyst Matt Farrell started coverage of the online sportsbook operator with an \u201coverweight\u201d rating and a $21 price target, which implies upside of about 41% from […]<\/p>\n","protected":false},"author":46,"featured_media":244131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[81903,80968],"acf":[],"yoast_head":"\n
DraftKings Stock Endorsed In New Coverage By Piper Sandler Analyst<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n