Bernstein Stays Bullish on DraftKings (DKNG) Amid Sturdy Enlargement Prospects

DraftKings Inc. (NASDAQ:DKNG) earns a spot on our listing of 13 shares with constant progress to purchase proper now.

Courtesy of Draftkings

As Wall Avenue emphasizes the corporate’s enlargement technique and long-term market alternatives, the corporate retains bullish analyst sentiment.

Bernstein maintained its “Outperform” ranking on DraftKings and elevated its worth goal from $28 to $30 on March 5, 2026. The funding agency emphasised Kalshi’s push into sports activities predictions, which has expanded extra rapidly than anticipated, posing competitors dangers. The agency additionally highlighted DraftKings’ advertising and marketing spend plan of $250-$500 million, which it views as strategic fairly than extravagant. Moreover, the agency argues that the corporate will probably broaden its addressable buyer base by having access to roughly 40% of Individuals dwelling in unregulated betting states, due to a future mixed on-line sportsbook and Predictions product.

Two days prior, BMO Capital Markets reiterated its “Outperform” ranking whereas elevating its worth goal for the inventory from $42 to $50. The corporate tasks long-term adjusted EBITDA margins above 30% and anticipates DraftKings’ complete addressable market to develop at a five-year CAGR of 15%. It contends that the inventory continues to be fairly priced at about 10x ahead EBITDA.

DraftKings, Inc. (NASDAQ:DKNG) is a digital sports activities leisure and gaming agency that gives media merchandise, retail sportsbooks, iGaming, each day fantasy sports activities, on-line sports activities betting, and blockchain-based digital collectibles by way of DraftKings Market.

Whereas we acknowledge the potential of DKNG as an funding, we imagine sure AI shares provide higher upside potential and carry much less draw back danger. In the event you’re searching for an especially undervalued AI inventory that additionally stands to learn considerably from Trump-era tariffs and the onshoring pattern, see our free report on the finest short-term AI inventory. READ NEXT: 33 Shares That Ought to Double in 3 Years and 15 Shares That Will Make You Wealthy in 10 Years  Disclosure: None. Observe Insider Monkey on Google Information.